Chemcon Speciality Chemicals has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise an estimated Rs 350 crore through an Initial Public Offering (IPO). The shares of the company are proposed to be listed on NSE and BSE.
The issue comprises of a fresh issue of Rs 175 crore and an offer for sale of 43 lakh equity shares from the promoters. The book running lead managers to the issue are Intensive Fiscal Services and Ambit Capital.
The company is a leading manufacturer of pharmaceutical intermediates, Silanes and Oilfield Chemicals (Completion Fluids). It supplies its products to domestic customers and also export to countries including the US, China, Japan, UAE, Azerbaijan, Serbia, Russia and Malaysia.
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