Chemplast Sanmar, India's leading manufacturer of specialty chemicals, has fixed the price band at ₹530-541 per equity share with a face value of ₹5 each, for its ₹3,850-crore of initial public offering.
The IPO offer will open on August 10 and will close on August 12. The anchor book, if any, will open one day earlier, i.e. August 9.
The IPO comprises a fresh issue of ₹1,300 crore, and an offer for sale of ₹2,550 crore by promoters Sanmar Holdings, and Sanmar Engineering Services.
The company has proposed use of the IPO funds for early redemption of non-convertible debentures (₹1,238.25 crore) and other corporate purposes.
Investors can bid for a minimum of 27 equity shares and in multiples of 27 equity shares thereafter. Up to 75 per cent of the total offer has been reserved for qualified institutional buyers, 10 per cent for retail investors and the remaining 15 per cent for non-institutional investors.
ICICI Securities, Axis Capital, Credit Suisse Securities (India), IIFL Securities, Ambit, BOB Capital Markets, and HDFC Bank are global co-ordinators and book running lead managers to the issue. IndusInd Bank and YES Securities (India) are the book running lead managers to the offer.