Read Chemplast Sanmar Files DRHP with Sebi to raise Rs 3,500 crore via IPO and company data and Grey market price in Comments, Article Published in Initial public offering section on e akhabaar
The chemical company Cheamplast Sanmar Ltd has planning to launch its first-ever Initial Public Offer (IPO) which going to be released very soon. According to the current information, Draft Red Herring Papers (DRHP) has filed with the Stock Exchange Board of India. After the research, we get all the details related to this upcoming IPO. Let’s discuss complete news with amazing inside details.
On the basis of available details, the company will raise Rs 3,500 crore for the upcoming growth of the firm. Even the issue size is set like Rs 1,500 crore from fresh Issue and from offer sale Rs 2,000 crore by its current promoters and shareholders.
However, the issue date is yet to be released by the company and now as per the expectation. The date will be announced when Sebi approves the DRHP. The proceeds from the issue will be used for the early redemption of non-convertible debentures (NCDs) worth Rs1,238.25 crore.
If we talk about the company profile so they work in the field of Chemicals, caustic soda, hydrogen, peroxide, and refrigerant gases and also have a contract manufacturing segment.
Reportedly it was found in the filings that the company has impressive financial results in FY2020. It had total revenue of Rs 1,265.51 crore against Rs 1,266.77 crore last year. Even the net profit touched the peak and it was Rs 46.13 crore versus Rs 118.46 crore a year ago. As of December 2020, But unfortunately, the company suffers from net debt of Rs 1,187.58 crore.
The Cheamplast Sanmar Ltd Listing, GMP, Allotment, Subscription Status, and other details will be updated here soon. There is no such information has revealed by the company. So we need to wait few days. To know further IPO details stay to get in touch with Uptobrain.com/business via bookmark the website.
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