Chemplast Sanmar IPO
Chemplast Sanmar IPO — date, price band, lot size & details 2021
Chemplast Sanmar listed on 24 Aug 2021 at ₹550, 1.7% above the ₹541 issue price.
Chemplast Sanmar is a specialty chemicals maker and the largest producer of specialty paste PVC resin in India by capacity. Its total income was Rs 3,815.11 crore in FY2021.
Stock price
Chemplast Sanmar 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 10 November.
- Open 10 Aug 2021
- Close 12 Aug 2021
- Allotment 18 Aug 2021
- Refund/credit 20 Aug 2021
- Listing 24 Aug 2021
Issue summary
The terms of the offer, as filed.
| IPO Dates | 10 to 12 Aug, 2021 |
|---|---|
| Price Band | ₹530 – ₹541 |
| Face Value | ₹5 |
| Lot Size | 27 Shares |
| Issue Size | ₹3850 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,607 |
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 27 shares at the ₹541 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 27 | ₹14,607 |
| Retail (max) | 13 | 351 | ₹1,89,891 |
| S-HNI (min) | 14 | 378 | ₹2,04,498 |
| S-HNI (max) | 68 | 1,836 | ₹9,93,276 |
| B-HNI (min) | 69 | 1,863 | ₹10,07,883 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 1,265.51 crore in FY2020 to Rs 3,815.11 crore in FY2021 on a consolidated basis.
- 02Profit after tax rose from Rs 46.13 crore in FY2020 to Rs 410.24 crore in FY2021.
- 03EBITDA was Rs 1,127.22 crore in FY2021.
- 04Rs 1,238.25 crore of the fresh issue was planned for redeeming NCDs, which cuts debt.
- 05The pre-issue P/E was 17.68 at the upper band of Rs 541, based on EPS of Rs 30.60.
Risks · 6
- 01Net worth was negative at minus Rs 1,865.68 crore on 31 March 2021.
- 02Total borrowing rose from Rs 252.85 crore on 31 March 2019 to Rs 2,110.23 crore on 31 March 2021.
- 03Rs 2,550.00 crore of the Rs 3,850 crore issue was offer for sale, so most of the money went to the promoter group.
- 04The jump in income in FY2021 reflects a change in the consolidated group, so the years are not directly comparable.
- 05All 4 plants are in Tamil Nadu and Puducherry, and some old corporate records from 1985 are not traceable, as the RHP notes.
- 06Promoter holding fell from 100% before the issue to 54.99% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Chemplast Sanmar offer document.
| Metric | 31 Mar 2021 | 31 Mar 2020 | 31 Mar 2019 |
|---|---|---|---|
| Assets | 4,486.09 | 4,107.54 | 3,801.56 |
| Total Income | 3,815.11 | 1,265.51 | 1,266.77 |
| Profit After Tax | 410.24 | 46.13 | 118.46 |
| EBITDA | 1,127.22 | 254.52 | 298.05 |
| NET Worth | -1,865.68 | 846.03 | 1,411.53 |
| Reserves and Surplus | -451.13 | 1,845.48 | 1,795.24 |
| Total Borrowing | 2,110.23 | 1,288.68 | 252.85 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Chemplast Sanmar RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Chemplast Sanmar IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹30.60 | ₹25.95 |
| P/E Ratio (x) | 17.68 | 20.85 |
| Market Cap at Offer Price (₹ Cr) | ₹7,252.94 | ₹8,552.59 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹541 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹1,265.37 Cr of the issue is earmarked to named objects.
About the company
It also makes caustic soda, chlorochemicals, hydrogen peroxide, refrigerant gas and industrial salt. It is the largest maker of hydrogen peroxide in South India and the third largest maker of caustic soda there.
It has four plants. Three are at Mettur, Berigai and Cuddalore in Tamil Nadu and one is at Karaikal in Puducherry.
The IPO was Rs 3,850 crore, with Rs 1,300.00 crore of fresh issue and Rs 2,550.00 crore of offer for sale by the promoter group. Rs 1,238.25 crore of the fresh issue was planned for early redemption of NCDs.
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.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Axis Capital
71 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
ICICI Securities
65 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Ambit Capital
9 issues handledBest listing: Ami Organics (+49.2%). Weakest: Metro Brands (-12.6%).
IIFL Capital Services Limited
71 issues handledBest listing: MTAR Technologies (+82.6%). Weakest: Rategain Travel Technologies (-15.3%).
Hdfc Bank Limited
12 issues handledBest listing: G R Infraprojects (+105.0%). Weakest: Paytm (-9.3%).
BOB Capital Markets Ltd
4 issues handledBest listing: Smartworks Coworking Spaces (+6.9%). Weakest: Kalyan Jewellers India (-15.0%).
Credit Suisse Securities (India) Pvt. Ltd
6 issues handledBest listing: Zomato (+52.6%). Weakest: Star Health and Allied Insurance Company (-6.1%).
YES Securities (India) Ltd
2 issues handled2 of their issues have listed so far, and 1 opened above the issue price (average -4.9%). That is too small a sample to read as a hit rate.
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 Chemplast Sanmar?
The current Grey Market Premium is ₹0.
What is the Chemplast Sanmar IPO price band?
₹530 to ₹541, on a face value of ₹5.
When is the allotment?
The basis of allotment is 18 August 2021, with listing on 24 August 2021.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies 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.
