Chemspec Chemicals has received the Securities and Exchange Board of India’s (SEBI) approval to float an initial public offering (IPO). The Rs 700-crore IPO of Chemspec Chemicals is entirely an offer for sale by promoters. The shares the company will be listed on BSE and NSE.
The company, which filed the draft red herring prospectus with the SEBI in July, got the regulator’s approval on August 30, 2021. JM Financial and Axis Capital are the lead managers to the public issue.
Chemspec Chemicals is one of the leading manufacturers of critical additives for FMCG ingredients used in skin and hair care products and intermediates for pharmaceutical APIs used in anti-hypertension drugs. The company manufacture products at its production facility at Taloja, Maharashtra.
