Chemcon Speciality Chemicals IPO
Chemcon Speciality Chemicals IPO — date, price band, lot size & details 2020
Chemcon Speciality Chemicals listed on 1 Oct 2020 at ₹731, 115% above the ₹340 issue price.
Chemcon Speciality Chemicals makes HMDS and CMIC for the pharmaceutical industry and bromides used as completion fluids in oilfields. Its total income was Rs 266.02 crore in FY2020.
Stock price
Chemcon Speciality Chemicals is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 21 Sep 2020
- Close 23 Sep 2020
- Allotment 28 Sep 2020
- Refund/credit 29 Sep 2020
- Listing 01 Oct 2020
Issue summary
The terms of the offer, as filed.
| IPO Dates | 21 to 23 Sep, 2020 |
|---|---|
| Price Band | ₹338 – ₹340 |
| Face Value | ₹10 |
| Lot Size | 44 Shares |
| Issue Size | ₹318 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,960 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 44 shares at the ₹340 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 44 | ₹14,960 |
| Retail (max) | 13 | 572 | ₹1,94,480 |
| S-HNI (min) | 14 | 616 | ₹2,09,440 |
| S-HNI (max) | 66 | 2,904 | ₹9,87,360 |
| B-HNI (min) | 67 | 2,948 | ₹10,02,320 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01It was the only HMDS maker in India and the third largest worldwide by production in 2019.
- 02Profit after tax rose from Rs 26.38 crore in FY2018 to Rs 48.85 crore in FY2020.
- 03EBITDA rose from Rs 45.10 crore in FY2018 to Rs 70.26 crore in FY2020.
- 04Net worth rose from Rs 53.62 crore in FY2018 to Rs 142.71 crore in FY2020.
- 05Exports made up 39.78% of FY2020 revenue from operations, spread over many countries.
Risks · 6
- 01Total income fell from Rs 305.33 crore in FY2019 to Rs 266.02 crore in FY2020.
- 02Its top five customers gave 59.35% of FY2020 revenue from operations.
- 03In oilwell completion chemicals, the top five customers gave 95.39% of that segment's FY2020 revenue.
- 04Its 5 operational plants are all at Manjusar near Vadodara, so a disruption there would hit the whole business.
- 05Export sales of 39.78% of revenue bring currency and overseas regulation risk.
- 06Promoters and the promoter group held 100% before the issue and 74.47% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Chemcon Speciality Chemicals offer document.
| Metric | 31 Mar 2020 | 31 Mar 2019 | 31 Mar 2018 |
|---|---|---|---|
| Assets | 225.79 | 173.03 | 97.07 |
| Total Income | 266.02 | 305.33 | 158.39 |
| Profit After Tax | 48.85 | 43.04 | 26.38 |
| EBITDA | 70.26 | 66.08 | 45.10 |
| NET Worth | 142.71 | 95.77 | 53.62 |
| Reserves and Surplus | 114.59 | 65.25 | 45.68 |
| Total Borrowing | 44.51 | 33.11 | 16.89 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
₹149.79 Cr of the issue is earmarked to named objects.
About the company
It makes HMDS and CMIC, which are used mainly in pharmaceuticals, and calcium, zinc and sodium bromide, which are used as completion fluids in oilfields. According to the Frost & Sullivan Report in its RHP, it was the only maker of HMDS in India and the third largest worldwide in 2019, and the second largest maker of CMIC worldwide.
It exports to countries including the United States, Italy, South Korea, Germany, China and Japan, and exports made up 39.78% of revenue from operations in FY2020. Its manufacturing is at Manjusar near Vadodara in Gujarat.
The IPO was Rs 318 crore, with Rs 165.00 crore of fresh issue and Rs 153.00 crore of offer for sale by Kamalkumar Rajendra Aggarwal and Naresh Vijaykumar Goyal. The fresh money was for expanding the plant and for working capital.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Chemcon Speciality Chemicals IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Ambit Capital
16 issues handledBest listing: Senores Pharmaceuticals (+53.5%). Weakest: Metro Brands (-12.6%).
Intensive Fiscal Services Pvt. Ltd
8 issues handledBest listing: Waaree Energies (+66.3%). Weakest: Gopal Snacks (-12.5%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Chemcon Speciality Chemicals?
The current Grey Market Premium is ₹340, or 100% over the issue price.
What is the Chemcon Speciality Chemicals IPO price band?
₹338 to ₹340, on a face value of ₹10.
When is the allotment?
The basis of allotment is 28 September 2020, with listing on 1 October 2020.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
