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Archean Chemical IPO is a book built issue of Rs 1,462.31 crores. The issue is a combination of fresh issue of 1.98 crore shares aggregating to Rs 805.00 crores and offer for sale of 1.62 crore shares aggregating to Rs 657.31 crores.
Archean Chemical IPO bidding started from November 9, 2022 and ended on November 11, 2022. The allotment for Archean Chemical IPO was finalized on Wednesday, November 16, 2022. The shares got listed on BSE, NSE on November 21, 2022.
Archean Chemical IPO price band is set at ₹386 to ₹407 per share. The minimum lot size for an application is 36 Shares. The minimum amount of investment required by retail investors is ₹14,652. The minimum lot size investment for sNII is 14 lots (504 shares), amounting to ₹205,128, and for bNII, it is 69 lots (2,484 shares), amounting to ₹1,010,988.
Iifl Securities Ltd, ICICI Securities Limited and Jm Financial Limited are the book running lead managers of the Archean Chemical IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Archean Chemical IPO RHP for detailed information.
| IPO Date | November 9, 2022 to November 11, 2022 |
| Listing Date | November 21, 2022 |
| Face Value | ₹2 per share |
| Price Band | ₹386 to ₹407 per share |
| Lot Size | 36 Shares |
| Total Issue Size | 35,928,870 shares (aggregating up to ₹1,462.31 Cr) |
| Fresh Issue | 19,778,870 shares (aggregating up to ₹805.00 Cr) |
| Offer for Sale | 16,150,000 shares of ₹2 (aggregating up to ₹657.31 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 103,274,120 |
| Share holding post issue | 123,052,989 |
Archean Chemical IPO offers 19,957,325 shares. 10,706,095 (53.64%) to QIB, 5,550,738 (27.81%) to NII, 3,700,492 (18.54%) to RII. 102,791 RIIs will receive minimum 36 shares and 3,671 (sNII) and 7,342 (bNII) will receive minimum 504 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 10,706,095 (53.64%) | NA |
| NII (HNI) Shares Offered | 5,550,738 (27.81%) | |
| bNII > ₹10L | 3,700,492 (18.54%) | 7,342 |
| sNII < ₹10L | 1,850,246 (9.27%) | 3,671 |
| Retail Shares Offered | 3,700,492 (18.54%) | 102,791 |
| Total Shares Offered | 19,957,325 (100%) |
Archean Chemical IPO opens on November 9, 2022, and closes on November 11, 2022.
| IPO Open Date | Wednesday, November 9, 2022 |
| IPO Close Date | Friday, November 11, 2022 |
| Basis of Allotment | Wednesday, November 16, 2022 |
| Initiation of Refunds | Thursday, November 17, 2022 |
| Credit of Shares to Demat | Friday, November 18, 2022 |
| Listing Date | Monday, November 21, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 11, 2022 |
Investors can bid for a minimum of 36 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 36 | ₹14,652 |
| Retail (Max) | 13 | 468 | ₹190,476 |
| S-HNI (Min) | 14 | 504 | ₹205,128 |
| S-HNI (Max) | 68 | 2,448 | ₹996,336 |
| B-HNI (Min) | 69 | 2,484 | ₹1,010,988 |
| Lot Size Calculator | |||
Chemikas Speciality LLP, Ravi Pendurthi and Ranjit Pendurthi are the company promoters.
| Share Holding Pre Issue | 65.58% |
| Share Holding Post Issue | 53.41% |
Archean Chemical Industries Limited is India's largest exporter of bromine and industrial salt in Fiscal 2021. The company is the leading speciality marine chemical manufacturer in India and is focused on producing and exporting bromine, industrial salt, and sulphate of potash to customers around the world.
Archean Chemical Industries markets theproducts to 18 global customers in 13 countries and to 24 domestic customers. The company was the largest exporter of industrial salt in India with exports of 2.7 million MT in Fiscal 2021.
Archean Chemical Industries Limited are the largest exporter of Bromine from India. The company is the only manufacturer of sulphate potash in India. The company's marine chemicals business is predominately conducted on a business-to-business basis both in India and internationally.
The company has an integrated production facility for the bromine, industrial salt, and sulphate of potash operations, located at Hajipir, Gujarat, located on the northern edge of the Rann of Kutch brine fields.
Strengths:
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Total Borrowing |
|---|---|---|---|---|---|
| 31-Mar-19 | 1260.51 | 572.91 | 39.97 | 42.37 | 772.02 |
| 31-Mar-20 | 1428.6 | 617 | -36.24 | 5.97 | 929.26 |
| 31-Mar-22 | 1529.68 | 1142.83 | 188.58 | 261.06 | 921.87 |
| 30-Jun-22 | 1606.65 | 408.82 | 84.41 | 345.44 | 915.58 |
| Amount in ₹ Crore | |||||
The market capitalization of Archean Chemical IPO is Rs 5665.56 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 16.78 |
The Selling Shareholders will be entitled to their respective portion of the proceeds of the Offer for Sale.
The company proposes to utilise the Net Proceeds of the Fresh Issue towards funding the following objects:
1. Redemption or earlier redemption, in part or full, of NCDs issued by the Company.
2. General corporate purposes.
[Dilip Davda] ACIL has created a niche place as a specialty chemical manufacturer and exporter. It has started bearing fruits for its undergoing downstream expansions that have helped in improving margins. Based on its FY23 earnings, the issue appears reasonably priced. Considering ongoing fancy for specialty chemical shares, investors may consider investing in this blue chip in the offing for medium to long-term rewards. Read detail review...
The Archean Chemical IPO is subscribed 32.23 times on November 11, 2022 7:00:00 PM. The public issue subscribed 9.96 times in the retail category, 48.91 times in the QIB category, and 14.90 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 48.91 |
| NII | 14.90 |
| bNII (bids above ₹10L) | 16.90 |
| sNII (bids below ₹10L) | 10.92 |
| Retail | 9.96 |
| Total | 32.23 |
| Listing Date | November 21, 2022 |
| BSE Script Code | 543657 |
| NSE Symbol | ACI |
| ISIN | INE128X01021 |
| Final Issue Price | ₹407 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹407.00 |
| ₹449.00 |
| ₹440.05 |
| ₹476.05 |
| ₹457.95 |
| NSE |
|---|
| ₹407.00 |
| ₹450.00 |
| ₹440.20 |
| ₹476.00 |
| ₹458.15 |
Archean Chemical Industries Limited
No. 2, North Crescent Road,
T Nagar, Chennai 600 017
Tamil Nadu, India
Phone: +91 44 6109 9999
Email: info@archeanchemicals.com
Website: https://www.archeanchemicals.com/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: archean.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Archean Chemical IPO is a main-board IPO of 35,928,870 equity shares of the face value of ₹2 aggregating up to ₹1,462.31 Crores. The issue is priced at ₹386 to ₹407 per share. The minimum order quantity is 36 Shares.
The IPO opens on November 9, 2022, and closes on November 11, 2022.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Archean Chemical IPO using UPI as a payment gateway. Zerodha customers can apply in Archean Chemical IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Archean Chemical IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Archean Chemical IPO opens on November 9, 2022 and closes on November 11, 2022.
Archean Chemical IPO lot size is 36 Shares, and the minimum amount required is ₹14,652.
You can apply in Archean Chemical IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Archean Chemical IPO will be done on Wednesday, November 16, 2022, and the allotted shares will be credited to your demat account by Friday, November 18, 2022. Check the Archean Chemical IPO allotment status.
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