To tap the current market momentum, another speciality chemicals company Anupam Rasayan has filed its draft red herring prospectus (DRHP) with the SEBI to float a Rs. 760 crore IPO.
The proceeds from the public issue shall be primarily deployed for repayment of debt. Further the company has taken a decision to reserve some portion of the public issue for its employees and may even offer discount to eligible staff.
Also, the company after discussion with the book running lead managers may mull an additional issuance of equity shares, including via private placement method of Rs. 100 crore before filing the DRHP. Axis Capital, Ambit, IIFL Securities and JM Financial are the lead managers to the issue.
Anupam Rasayan, set up in the year 1984 is a Gujarat based company that offers conventional products and has now evolved into custom synthesis and production of life sciences-related specialty chemicals and other specialty chemicals. The company has two separate business divisions namely life sciences specialty chemicals and other specialty chemicals.