InvestorQ : Has Anupam Rasayan managed to raise anchor funds ahead of the IPO?
rhea Babu made post

Has Anupam Rasayan managed to raise anchor funds ahead of the IPO?

Riya Dwivedi answered.
8 months ago

Anupam Rasayan, which is a focused specialty chemicals company, has raised Rs.225 crore from anchor investors just ahead of its proposed IPO offer. Anupam Rasayan will allot 40.49 lakh shares to a total of 15 anchor investors at the upper price band proposed at Rs.555 per share. The anchor placement saw heavy demand from foreign portfolio investors, domestic mutual funds, insurance companies and even from AIFs.

While there was considerable interest across geographies, the marquee investors to whom shares were allotted include Birla Sunlife MF, Nomura Funds, Fidelity International, Sundaram Mutual Fund, SBI Life, IIFL Special Opportunities Fund and Max Life, among others. The Rs.760 crore IPO will be entirely a fresh issue of fund raising with no OFS component embedded in it.

Anupam Rasayan has been in business for the last 37 years since 1984 and manufactures speciality chemicals involving multi-step synthesis and complex chemistries. It has combined installed capacity of 23,396 MT. It mainly caters to sectors like agrochemicals, personal care and pharmaceutical sectors. Some of its major clients include names like Syngenta, Sumitomo Chemical Company and UPL Limited.