Can you tell me about the proposed IPOs of Chemspec Chemicals and Northern Arc?

You are right that both Chemspec Chemicals and Northern Arc Capital have got approval for their IPOs. The two companies had filed their draft red herring prospectus with SEBI in late July and early August and the approvals have just come in for the IPO. Both the IPOs are going to be a total offer for sale by the existing shareholders.

Chemspec will shortly launch its Rs.700 crore IPO which is entirely structured as an offer for sale as per the DRHP filed with SEBI. Chemspec is in the specialty chemicals space, that is seeing a lot of interest from institutional investors. Chemspec is a leading manufacturer of additives for FMCG ingredients used in skin and hair care products. It also makes API inputs.

On the other hand, Northern Arc is a non-deposit taking non-banking finance company or NBFC registered with the Reserve Bank of India. They are largely into financing and related activities in the Indian market and have had a profitable track record. The Northern Arc IPO is worth Rs.300 crore and that will also be an offer for sale issue.