Chemcon IPO: How momentum in the pharma sector is positive for the company

Chemcon Speciality is the only manufacturer of HMDS in India & 3rd largest worldwide. Besides, it is the largest player of CMIC in India. Both these chemicals are predominantly used in pharma sector

Pharmaceutical and oilfield chemical manufacturer Chemcon Speciality Chemicals’ initial public offering (IPO) is set to open today. With a price band of Rs 338-Rs 340, the company plans to raise up to Rs 318 crore during its three-day public offer which closes on Wednesday, September 23.

On September 18, the company raised Rs 95.4 crore through allotment of 2.806 million shares to anchor investors at Rs 340 per share, according to an exchange notification.

IDFC Emerging Business Fund, IDFC Dynamic Equity Fund, ICICI Prudential Child Care Plan Gift Plan, IIFL Special Opportunities Fund Series 7, HSBC Global Investment Funds, Mirae