Public Market

IPO

Chemplast Sanmar raises Rs.1,732.5-Cr from anchor investors

Money Control  

Specialty chemicals manufacturer Chemplast Sanmar has raised INR 1,732.5 crore from anchor investors ahead of its IPO opening. The company is to allot 3,20,24,029 equity shares to anchor investors, at INR 541 per share. Investors which participated in the anchor book were Abu Dhabi Investment Authority, Amundi Funds, Government Pension Fund Global, Best Investment, Corporation, Jupiter India Fund, Neptune Investment, Volrado Venture, Kuber India Fund, CLSA, Public Sector Pension Investment Board, Segantii India Mauritius, Copthall Mauritius, Moon Capital, Goldman Sachs, Tara Emerging Asia, Nomura, and Societe Generale. Domestic investors including SBI Mutual Fund, Axis Mutual Fund, Mirae Asset, ICICI Prudential, HDFC Life Insurance, HDFC Trustee, Nippon Life, Franklin India, Aditya Birla Sun Life, Sundaram Mutual Fund, IDFC, JM Financial, IIFL Special Opportunities Fund, and Edelweiss also invested in the company. Chemplast Sanmar, with a price band at INR 530-541 per equity share, aims to raise INR 3,850 crore through its public offer. The IPO comprises a fresh issue of INR 1,300 crore by the company, and an offer for sale of INR 2,463.4 crore by promoters, Sanmar Holdings and Sanmar Engineering Services. The net proceeds from the fresh issue will be used for early redemption of non-convertible debentures (INR 1,238.25 crore), besides for general corporate purposes.