News Details
Category : IPO
Headline : Chemcon Speciality announces launch of initial public offering
Date: 15/09/2020 14:40
Chemcon Speciality Chemicals Ltd. has announced public offering of 10000000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 290.00 per share. The gross proceeds of the issue are expected to be Rs 30,000.00 lakhs.

The company's initial public offer (IPO) will open on 21 September 2020 and is expected to close on 23 September 2020, subject to customary closing conditions. The price band of the issue has been fixed at Rs 295.00-300.00 per share.

The IPO includes a fresh Issue of 10000000 Equity Shares of the Company at an price of Rs 300.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 50 shares with bids in multiples of 50.

Chemcon Speciality Chemicals Ltd. anticipates using the proceeds of the issue for Capital expenditure towards expansion of the Manufacturing Facility (“Project), To meet working capital requirements, General corporate purposes.

Ambit Capital Private Limited,Intensive Fiscal Services Private Limited. as lead manager(s) & Link Intime India Private Limited is the registrar, to the issue.