Anupam Rasayan gains on Rs 1100-cr order win

Anupam Rasayan India rose 3.42% to Rs 650.15 after the company said it bagged an order worth Rs 1,100 crore from a multinational life sciences company.

In a regulatory filing made during market hours today, the company said that it signed Letter of Intent (LoI) amounting to Rs 1100 crore from one of the top ten multinational life sciences company, for supplying life sciences related speciality chemicals. The company will be providing multiple products in the category to the multinational firm for next five years.

The speciality chemicals major is manufacturing products for over 53 domestic and international customers, including 17 multinational companies. As on 31 December 2020, revenue from operations from exports accounted for 61.38% of the company's total revenue.

The company has a long history of high customer retention and have been manufacturing products for select customers for over a decade. The company caters to a diverse base of Indian and global customers.

Anupam Rasayan India is one of the leading companies engaged in the custom synthesis (CSM) and manufacturing of specialty chemicals in India.

On a consolidated basis, the company reported a net profit of Rs 48.1 crore and revenue of Rs 539.22 crore in the nine months ended on 31 December 2020.

The scrip was listed on the bourses on 24 March 2021 at Rs 534.70, a discount of 3.66% from its IPO price of Rs 555 per share. The IPO of Anupam Rasayan was subscribed 44.06 times. The issue opened for bidding on 12 March 2021 and closed on 16 March 2021. The price band for the IPO was set at Rs 553-555 per share.

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