Anupam Rasayan India Ltd has filed a draft red herring prospectus (DRHP) with the capital industry regulator Securities Exchange Board of India (SEBI). The firm appears to raise Rs 760-crore via initial public supply (IPO). According to the draft, the net proceeds of the concern will be utilised for the repayment or prepayment of specific indebtedness availed by the firm of Rs 556.20 crore and for common corporate purposes. The book operating lead managers to the concern are Axis Capital Ltd, Ambit Private Ltd, IIFL Securities Ltd and JM Financial Ltd. While the registrar to Anupam Rasayan India Ltd is KFin Technologies Private Ltd.
Anupam Rasayan engaged in the custom synthesis and manufacturing of specialty chemical substances in India. In the fiscal 2020 and in the six months ended September 30, 2020, revenues from its life science-associated specialty chemical substances vertical accounted for 95.37 per cent and 92.48 per cent, respectively, of its income from operations, though income from other specialty chemical substances accounted for 4.63 per cent and 7.52 per cent, respectively, of its income from operations, in such periods. The firm operates six multi-goal manufacturing facilities in Gujarat, with 4 facilities positioned at Sachin and two positioned at Jhagadia.
Surat-primarily based firm has decided to reserve a portion for its staff and could think about a discount for eligible employees. The firm primarily caters to the agrochemical, individual care and pharmaceutical sectors, which accounted for more than 95 per cent of its revenues in 2019-20. Its clientele include things like Syngenta Asia Pacific, Sumitomo Chemical Company and UPL Limited.
Anupam Rasayan India’s listed peers include things like PI Industries, Navin Fluorine International Ltd, Astec Lifesciences Ltd and SRF, with P/E of 69.33, 30.25, 46.43 and 30.13, respectively. PI Industries shares have been trading firm at Rs 2,228, Navin Fluorine International Ltd at Rs 2,536.50, Astec Lifesciences Ltd at Rs 1,217 and SRF at Rs 5,496.25 apiece. Last week, speciality chemical substances manufacturer Laxmi Organic Industries had filed preliminary papers to raise Rs 800 crore via initial public supply.