Anupam Rasayan files preliminary papers with SEBI; intends to secure IPO of Rs. 760 crore

Anupam Rasayan, a specialty chemical company based in Surat, has filed preliminary papers viz. draft red herring prospectus with SEBI to raise Rs. 760 crore through the primary market.

The company produces specialty chemicals for the agrochemical, personal care and pharmaceutical sectors. Its clients include Syngenta Asia Pacific, Sumitomo Chemical Company and UPL.

The company will reserve a portion of the IPO for its employees and may also consider a discount for eligible staff, the company said in the draft red herring prospectus. It added that the issue proceeds will be used mainly to repay debt.

It may be noted that Anupam Rasayan started its operations in the year 1984. It has six multi-purpose manufacturing facilities in Gujarat with a combined capacity of around 23,396 metric tonne.