Chemplast Sanmar shares will be listed on the BSE and NSE today. The IPO of the speciality chemicals maker had received 2.17 times subscription. It received bids for 8,66,38,140 shares against 3,99,52,829 shares on offer.
While the qualified Institutional Buyers (QIBs) category was subscribed 2.70 times, non-institutional investors 1.03 times and retail individual investors(RIIs) 2.29 times.
The initial public offer aggregating up to Rs 3,850 crore had a fresh issue of up to Rs 1,300 crore and an offer for sale of up to Rs 2,550 crore. The IPO was in a price range of Rs 530-541 per share. The allotment was done at Rs 541. Ahead of the public issue, Chemplast Sanmar had collected over Rs 1,732 crore from anchor investors.
In the grey market, the unlisted shares are not indicating any positive sentiment. It is likely that the IPO will have a flat listing.
Chennai-based Chemplast Sanmar is a leading speciality chemicals manufacturer with a focus on speciality paste polyvinyl chloride resin and custom manufacturing of starting materials and intermediates for pharmaceutical, agro-chemical and fine chemicals sectors.
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