Chemcon Chemicals IPO - Mr. Keshav Lahoti - Associate Equity Analyst, Angel Broking Ltd

"As the stock market has recovered well from lows in March'20 and post multifold bids for Route Mobile and Happiest Minds IPO, we will see many IPO launching in the remaining part of the year. On September 21, two IPO issues will open: Chemcon Speciality Chemicals and Computer Age Management Services. Chemcon is a manufacturer of specialised chemicals, such as HMDS and CMIC which are predominantly used in the pharmaceuticals industry and inorganic bromides which are predominantly used as completion fluids in the oilfields industry. Company supply products to domestic customers and also export products. In Fiscals 2020, 2019 and 2018, their revenue from exports (including Deemed Exports) contributed 39.78%, 31.99% and 47.84% respectively of revenue from operations. Objects of the issue are capital expenditure, working capital requirements and general corporate purpose expense. Fresh issue would be of up to Rs.165 cr and offer for sale would be up to 45 lakh shares. Issue dates are September 21 - September 23. Intensive and Ambit are book running lead managers."

Source : Equity Bulls

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