The company has proposed to utilise the net proceeds from the fresh issue for capital expenditure towards the expansion of its manufacturing facility, to meet working capital requirements and general corporate purposes. Do You Keep Cash in a Bank Locker? Times Internet Limited. The Vadodara-based company raised Rs 95.40 crore through allotment of 28.06 lakh shares to 13 anchor investors at Rs 340 per share. While the grey market premium of Chemcon stood at Rs 250-255, CAMS’s is at Rs 342-345 and Angel Broking’s at Rs 40-50. Amid volatile share market, Chemcon Speciality Chemicals premium has dropped to Rs 200 over the IPO price, from Rs … Chemcon Speciality Chemicals shares made a strong debut on BSE and NSE today, with stock prices more than doubling on listing day. This shows the IPO of Chemcon may offer good listing gains to the investors. 10 each by the promoters, in the price band of Rs. 165 crore and an offer for sale (OFS) of up to 45 lakh equity shares of Rs. Chemcon Speciality Chemicals IPO has been subscribed 1.18 times on the first day of the bidding with retail category subscribing 2.65 times; and NIIs 0.26 times. Chemcon Limited – Company Overview Company was originally incorporated as Gujarat Quinone Private Limited at Vadodara, Gujarat, India, as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated December 15, 1988 issued by … Prince Harry talks about role of social media in Capitol Hill riots, Microsoft may earn an Affiliate Commission if you purchase something through recommended links in this article, Travel before March 21 & save 20% on your next booking, Experience productivity at its finest with the Vostro 5402. Copyright © 2021. Strong customer base and long-standing relationship with customers has supported in retaining Chemcon Speciality Chemicals Ltd market share, increasing product base and reaching out to new customers, said analysts at Geojit Financials. This is the amount an investor stands to gain, irrespective of allotment status. 'Didn’t have enough money', 'A WWE-scripted level of comeback': Triple-H lauds Team India for Border-Gavaskar series triumph, NITI Aayog Recruitment last date to apply for 10 contractual jobs, Halle Berry Shares the Home Workout Gear That Keeps Her Insanely Fit at 54, THESE zodiac signs love doing pranks on people, 2021 Ducati Scrambler Icon Dark: Top Highlights, JioMeet video calling platform crosses 15 millions users, 'Pakistan Zindabad' slogans raised in 'lighter vein' in Delhi; investigation underway, Sundance Film Festival enters uncharted waters in unique Oscar season, ISL 2020-21: 10-man FC Goa hold Kerala Blasters to 1-1 draw, Flipkart Big Saving Days sale last day today: Five deals you shouldn't miss, Chest Pain? CHEMCON IPO Review, Dates, Price Bands, Market Lot, Chemcon Speciality Chemicals IPO Grey Market Price Details. Kostak rate is the amount an investor gets by selling his/her IPO application in the grey market. The speciality chemicals manufacturer of pharma chemicals and oil well completion chemicals, enjoys high entry barriers which lead to client stickiness and long-standing relationships. IPO GMP is the rate of premium an IPO commands per share in the grey market. By. The Rs 318-crore Chemcon Speciality Chemicals IPO, which opened for subscription today, comprises fresh issue of equity shares aggregating up to Rs 165 crore, and an offer for sale of up to 45 lakh equity scrips. Investor Academy - October 1, 2020. Chemcon IPO is a main-board IPO of 9,352,940 equity shares of the face value of ₹10 aggregating up to ₹318.00 Crores. The "grey market premium" aka "IPO GMP" is a term people use in the IPO market to check what is the estimated price the IPO might list on.The grey market is unofficial but investors looking at the grey market price of an IPO to get the fixed gain of the stock. Moreover, the gray market price of its shares is also up by around 93%. Chemcon Speciality Chemicals IPO Valuation. We don’t trade into the grey market nor do we facilitate buying or selling of IPO forms. At the upper end of the price band, the IPO will fetch Rs 318 crore. The Rs 318-crore Chemcon Speciality Chemicals IPO was open for subscription during September 21-23, with a price band of Rs 338-340. Most research and brokerage firms have recommended to ‘subscribe’ to this issue. On the upper price band of Rs 340 and EPS of Rs 15.37 for FY20, the P/E ratio works out to be 22x. It received bids for 976 million equity shares against the IPO size of over 6.5 million equity shares. Indian share market volatility has hit recent IPOs’ grey market premiums. Grey Market Premium of Chemcon IPO Day by Day. The Chemcon IPO Grey Market Premium price is Rs X, the Kostak rate is Rs 350 and the Subject to Sauda is 5000. Dinesh Gupta of Unlisted Zone said the grey market premium stood at Rs 342 for CAMS and Rs 250 for Chemcon. Dinesh Gupta of Unlisted Zone said the grey market premium stood at Rs 342 for CAMS and Rs 250 for Chemcon. Chemcon Speciality trading at Rs 150-200 premium in grey market. See Zee Business Live TV streaming below: "Due to increased demand, small IPOs generally quote at a high premium in the grey market," Kwatra told Financial Express Online. Amid Indian share market volatility, recent IPOs’ grey market premiums remained stable. Grey market premium as on 30-09-2020 = Rs 325-330/Share Dipin Kwatra, Director at New Vertical Vera Advisory Pvt Ltd, a wealth management firm, said as the issue size of Chemcon Speciality Chemicals is around Rs 320 crore, with a price band of Rs 338-340, it was trading with Rs 150-200 premium at around Rs 500. All rights reserved.For reprint rights. For last 3 years EPS of Rs 13.59, P/E ratio is 25x. The price band has been fixed at Rs 338-340 per share. While the grey market premium of Chemcon stood at Rs 250-255, CAMS’s is at Rs 342-345 and Angel Broking’s at Rs 40-50. Chemcon Speciality is entering the primary market on Monday 21 st September 2020, with a Rs. Chemcon Speciality trading at Rs 150-200 premium in grey market. 318 crore IPO, comprising fresh issue of up to Rs. The retail category has subscribed its portion 2.65 times; and NIIs 0.26 times. We are positive on the future outlook for the industry as well as the company," it said. The Kostak Price of Chemcon IPO is ₹0.As the Allotment is Out.. Chemc on IPO The grey market works before the IPO listing and during the days from IPO start date to the allotment date. It said that none of the listed chemical companies has the same business as Chemcon. "Further considering the bright prospects for Chemical companies due to shift of supply chain away from China, we believe Chemcon would be well placed to capture this with its planned capex," it added. And, the grey market premium is … The minimum order quantity is 44 Shares. The Grey Market Premium of Chemcon IPO is ₹330.It has decreased a bit in the last few hours. Chemcon IPO details: Subscription Dates: 21 – 23 September 2020 Price Band: INR338 – 340 per share: Fresh issue: INR165 crore: Offer For Sale: 45,00,000 shares (INR152.1 – 153 crore) The IPO opens on Sep 21, 2020, and closes on Sep 23, 2020.. Link Intime India Private Ltd is the registrar for the IPO. Angel Broking has also given a subscribe rating to the Chemcon Speciality Chemicals IPO. 338-340 per share. Motilal Oswal Financial Services like Chemcon Speciality Chemicals due to the leadership position in niche products, high entry barriers and healthy financials. Chemcon Speciality Chemicals Limited IPO is a Mainstream IPO, which is open for all investors from 21st Sept 2020, Monday to 23rd Sept 2020, Wednesday. Chemcon trades at over 111% grey market premium ahead of listing today, China's manufacturing activity surges in September, affirming its path to economic recovery, US stock futures fall after 'chaotic' presidential debate, risk aversion rattles oil and silver, The UK economy shrank more than it has done in 65 years, plunging nearly 20% in the second-quarter, CAMS to list tomorrow — trades at over 25% grey market premium despite volatile market conditions, Honda’s new cruiser bike H’ness CB 350 launched in India — to be priced around ₹1.9 lakh, Bernie Sanders turned his inauguration meme into a sweatshirt to raise money for charity, OPINION: From sunglasses to smartphones, global manufacturers need to understand the Indian consumer before making asks from the budget, Melania Trump arrived in Florida wearing a $3,700 orange dress after leaving the White House in an all-black look, Microsoft to integrate Teams across SAP solutions, Online Grocery market estimated to grow eight times in 5 years in India, JioMart big gainer, Facebook users forced to log out of accounts unexpectedly due to Configuration change, Mrs Bectors shares are down 32% from the peak post listing — analysts say it is still 'overpriced', Immune system of recovered COVID-19 patients may evolve to fight Coronavirus variants, says study, Master Business Fundamentals from Wharton. Here are 4 ways, Ducati Scrambler 1100 Dark Pro: Top 5 Highlights, Will look into video conferencing plea of Kappan’s mother: UP to SC, Golden jubilee of HP's statehood: Amit Shah to attend celebrations in Shimla on 25 January, Kangana Ranaut on designing her own attire for National Film Award event. "At the upper price band of Rs 340, CSCL is available at P/E of 25.5x on FY20, which is attractive when compared to peers," it said. So far in the day, Chemcon Speciality Chemicals IPO has been subscribed 1.18 times. "We believe the company is clearly undervalued compared to its peers; a lot of value is left in the table. Grey market premium as on 01-10-2020 = Rs 340-350/Share. The brokerage has advised investors to subscribe to the issue. The gray market for goods thrives when there is a significant price discrepancy for a popular product in different nations. In this market, an investor could sell IPO share or IPO application before the company gets listed on the stock exchange. Like us on Facebook to see similar stories, Leopard stuck in clutch wire trap rescued, Bigg Boss 14: Sidharth Shukla takes on hosting duties and fills Salman Khan's shoes in his absence, ISL: We can run everyone close, says Odisha FC coach Stuart Baxter, PUBG Mobile India launch update: Two new games similar to PUBG to be launched in 2022? Chemcon Speciality Chemicals is likely to raise around Rs 350-400 crore through its IPO. Its speciality chemical peers such as Neogen Chemicals, Paushak, Atul and Aarti Industries are currently trading at P/E multiples of 57.0x, 37.6x, 29.6x and 35.6x respectively on FY20 EPS. The issue will close for subscription on September 23. The deals are usually facilitated by the broker in neighborhood. According to the analysts, the grey market premiums were more or less stable this week as compared to last week. IPO Grey Market is the over-the-counter market where deals are done in-person only among the trusted group of investors. there is a decrease of 20% in each these ipo’s premium as american market and world markets see’s sell off. Grey market premium of upcoming IPO’S Falls as sensex and nifty falls 2.2% each and currently grey market premium of cams and chemcon is trading at 25% and 60% each. 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Brokerages recommend to 'subscribe' to Chemcon IPO. The shares of Chemcon Speciality Chemicals will hit the bourses today. The grey market premium had indicated listing gains of nearly 111% over the issue price band. Grey market premium for CAMS and Chemcon Speciality Chemicals stood at Rs 340-350 and Rs 230-235, respectively. After reading the complete analysis, we hope you have understood about Chemcon and its IPO. Means company is asking the issue price of Rs 340 per share in the P/E range of 22x to 25x. Chemcon IPO GMP Today. On Monday, the two offerings CAMS (Rs 2,242 crore) and Chemcon Speciality Chemicals (Rs 318 crore) will hit the market. The grey market premium stood at Rs 240-250 per share on Thursday. Chemcon IPO Kostak Price. Chemcon Speciality Chemicals IPO is going to hit the market on 21st Septembr 2020 and the grey market premium is active now and very good figure as per market condition.As Chemcon gmp and kostak price is looks good before the price band came up, so it will sure lit up the primary market … Here are details, Papaya leaf juice: 5 reasons why one should consume it, Being sustainable in 2021 includes shopping responsibly for food. Chemcon Speciality Chemicals ends 72% higher from its issue price of Rs 340 per share Oct 01 2020 05:10 PM Chemcon Speciality Chemicals sees stellar listing; should investors book profits or … The issue is priced at ₹338 to ₹340 per equity share. The shares of specialised chemical products manufacturer, Chemcon Speciality Chemicals, are slated to be listed on the bourses today. Times Syndication Service. Both the issues will be open for subscription between September 21 and 23. The Chemcon Speciality Chemicals IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X. Chemcon Speciality Chemicals IPO Price The face value of each share is Rs 10, but the price band of the IPO is [ ]. On Monday, the two offerings CAMS (Rs 2,242 crore) and Chemcon Speciality Chemicals (Rs 318 crore) will hit the market. Chemcon Speciality Chemicals is going to launch its initial public offering on September 21. As per the market experts, the public issue size could be in the range of Rs 350-400 crore, while the IPO price band is expected at around Rs 295-300 per share. If Yes, This Viral Video is a Must Watch! The brokerage firm has given a subscribe rating to this issue considering its healthy business performance, regular capacity expansions, strong customer base, expanding margin profile and improving outlook for the sector. 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