Anupam Rasayan’s IPO to open on 12th March

Surat based company – Anupam Rasayan India Limited is all set to launch its IPO worth Rs. 760 Crore. The company was incorporated in 1984 and is involved in manufacturing of specialty chemicals in India.

The subscription will open on 12th March and close on 16th March. The price band for the public offering is at Rs. 553-555 per share.

The company has reserved 220,000 shares for its eligible employees and 50% of the net issue is reserved for qualified institutions. The retail quota is set at 35 per cent, and retail investors can bid for a lot of minimum 27 shares and in multiples thereof.

The raised capital from the issue will be used in paying off debts. It has been reported that the company has an outstanding debt of around 814.48 Crores.

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