The portion reserved for retail investors was subscribed 6.63 times. While the Qualified Institutional Buyer was subscribed 0.37 times, the Non-Institutional Investor category was subscribed 1.40 times. The Employee category was subscribed 0.93 times.
Key brokerage houses like Axis Securities, ICICI Direct, Motilas Oswal, Canara Bank Securities Ltd, Kotak Securities, Angel Broking, HEM Securities, Choice Capital, BP Securities and Ventura have given positive recommendations for the issue while highlighting the key strengths of the company like diversified customer base, core focus on process innovation and constant upgradation, consistent R&D, stringent quality specifications, strong and long-term client relationships, marquee client base amongst others. These report have further highlighted the Company’s consistent track record of financial performance and experienced management as one of the key advantages of the Company.
The reports have also highlighted that India’s specialty chemicals industry is expected to grow at a CAGR of approximately 10% to 11% over the next five years and that India accounts for approximately 1% to 2% of the global exportable specialty chemicals; which indicates a large scope of improvement and widespread opportunity in the speciality chemicals segment.
Axis Capital Limited, Ambit Private Limited, IIFL Securities Limited and JM Financial Limited are the book running lead managers to the Issue.
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