On the first day of the opening of the IPO issue, Chemcon Speciality gets fully subscribed. Against the total issue size of 65,59,173 equity shares, the bids have been received for 74,86, 996 shares.
The price band for the Chemcon Speciality Chemicals has been fixed at Rs. 338-340 per share.
The company based out of Vadodara, Gujarat is into manufacturing of speciality chemicals that are used in the pharma industry and also produces inorganic bromides that are used in the oil field.
The company's revenue from operations is Rs 262.05 crore, up by 29 percent with EBITDA of Rs 70.26 crore, up by 25 percent between FY18 and FY20.
In FY20, company's profit after tax was up by 36 percent at Rs 48.85 crore.