Delisted Chemplast Sanmar information IPO papers with SEBI; plans to launch Rs 3,500 crore public subject


Upon profitable itemizing, Chemplast Sanmar will be part of the likes of PI Industries, SRF Ltd, Finolex Industries and Navin Fluorine Worldwide Ltd. Picture: sanmargroup.com

Chemplast Sanmar, which was delisted practically a decade in the past, filed a Draft Pink Herring Prospectus (DRHP) with the capital markets regulator SEBI to boost Rs 3,500 crore through IPO. The general public subject will comprise a contemporary subject of Rs 1,500 crore and an offer-for-sale (OFS) of Rs 2,000 crore by the prevailing promoters and shareholders. Chemplast Sanmar is part of Chennai-based industrial conglomerate Sanmar Group, and is backed by Canadian billionaire Prem Watsa. The OFS contains the sale of Rs 1,850 crore by Sanmar Holdings Ltd and Rs 150 crore by Sanmar Engineering Companies Ltd. In keeping with DRHP, Chemplast Sanmar was delisted from BSE, NSE and MSE with impact from June 25, 2012, June 18, 2012 and June 25, 2012, respectively.

Chemplast Sanmar listed trade friends

Upon profitable itemizing, Chemplast Sanmar will be part of the likes of PI Industries, SRF Ltd, Finolex Industries and Navin Fluorine Worldwide Ltd. The typical trade P/E ratio is 45.27x. The corporate has deliberate to utilise the web proceeds in the direction of funding the early redemption of NCDs issued by the corporate, in full price Rs 1,238 crore; and for normal company functions. International coordinators and e-book working lead managers embrace ICICI Securities, Axis Capital, Credit score Suisse Securities Pvt Ltd, IIFL Securities, Ambit Pvt Ltd, BOB Capital Markets Ltd, HDFC Financial institution, IndusInd Financial institution, and YES Securities. The registrar to the problem is KFin Applied sciences Pvt Ltd. “As well as, we imagine that our improved leverage ratio, consequent to such redemption of NCDs, will enhance our means to boost debt sooner or later to fund potential enterprise growth alternatives and plans,” the corporate mentioned.

Chemplast Sanmar financials

For fiscal 2020, Chemplast Sanmar recorded a complete earnings of Rs 1,265.51 crore towards Rs 1,266.77 crore within the earlier yr. Whereas for the 9 months ended December 31, 2020, it posted a complete earnings of Rs 877.5 crore. The corporate clocked a internet revenue Rs 46.13 crore in fiscal 2020 as in comparison with Rs 118.46 crore a yr in the past. As of December 2020, its internet debt stood at Rs 1,187.58 crore. Chemplast Sanmar is specialty chemical substances producer in India with give attention to specialty paste PVC resin and customized manufacturing of beginning supplies and intermediates for pharmaceutical, agro-chemical and high quality chemical substances sectors. The full manufacturing of specialty paste PVC resin in India in monetary yr 2020 stood at 78 KTPA towards a requirement of 143 KTPA.

In India, Grasim Industries Ltd. (together with Aditya Birla Chemical compounds), DCM Shriram Restricted (DCM Shriram), Gujarat Alkalies and Chemical compounds Ltd.(GACL), and Reliance Industries Restricted (RIL) have a mixed capability of greater than 2800 KTPA. Grasim Industries Ltd. has chlor-alkali services at seven places, DCM Shriram, Chemplast Sanmar and GACL at two places every, and Reliance Industries at one location. Most of those services are positioned within the western a part of the nation. Capability utilisation of Indian gamers declined in monetary yr 2020 owing to an increase in imports and weak demand. In the long term, India is anticipated to show internet exporter of caustic soda as capability additions outpace incremental demand with the anticipated capability additions in chlorine downstream supporting the trade.

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