Anupam Rasayan's Rs 760-cr IPO opens Friday, price band at Rs 553-555

Only fresh issuance of shares; firm to utilise proceeds for repaying debt and for general purposes

Gujarat-based specialty chemicals company Anupam Rasayan India will launch its Rs 760-crore IPO on Friday. The price band of the issue is Rs 553-555 per share. The IPO comprises of only fresh issuance. Anupam Rasayan plans to utilise proceeds towards for repayment of debt and for general corporate purposes. The company operates six multi-purpose manufacturing facilities in Gujarat where it manufactures custom synthesis and manufacturing focused specialty chemicals. Syngenta Asia, Sumitomo Chemical and UPL are some of its clients