The Chemcon Specialty Chemicals and CAMS IPOs that closed today have received an excellent response. Chemcon’s IPO was subscribed 149 times, while CAMS nearly 47 times. The strong response stems from two previous issues, Happiest Minds and Route Mobile, which also received a large number of subscriptions.
Chemcon Specialty Chemicals, a manufacturer of specialty chemicals, offered shares in the price band of ₹338-340 on the initial sale of shares. Before its IPO, Chemcon Specialty Chemicals increased ₹Rs 95 crore from 13 anchor investors. At the upper end of the price band, the IPO will reach ₹318 crore.
The share price band of the Computer Age Management Services Limited (CAMS) issue was set at ₹1,229-1,230. Ahead of ₹2,250 crore IPO, CAMS, acting as a record and transfer agent (RTA) for mutual funds, raised on ₹660 crore from 35 anchor investors.
According to brokerages, the share allocations in the Chemcon Specialty Chemicals and CAMS issues are likely to be funded on September 28 and the issues to be listed on October 1.
Link Intime India Pvt Ltd is the registrar for both IPOs.
The initial public offering (IPO) of Chemcon Specialty Chemicals comprises a new issue of equity shares totaling up to ₹165 million rupees and an offer to sell of up to 45 lakh scrips of shares by the promoters.
The company intends to use the net proceeds from the new issuance to cover capital expenditures for the expansion of its manufacturing facility, fund working capital requirements, and general corporate purposes.
Chemcon Specialty Chemicals Ltd is a leading manufacturer of specialty chemicals such as HMDS (hexamethyldisilane) and CMIC (chloromethyl isopropyl carbonate) that are predominantly used in the pharmaceutical industry (pharmaceutical chemicals) and inorganic bromides, primarily used as termination fluids in industry. of oil fields (petroleum completion chemicals).
In CAMS IPO, the total amount of shares sold to investors is the 37.4% share of NSE or 1.82 million shares. NSE is selling its entire stake in the company through this IPO under the direction of market regulator Sebi.
CAMS is India’s largest mutual fund registration and transfer agent (RTA) with an aggregate market share of around 70% based on AUM managed mutual funds. In fiscal year 20, CAMS generated 87% of the mutual fund services business revenues.
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