The Chemcon Speciality Chemicals shares are expected to be listed on October 1. The Rs 318-crore initial public offer (IPO) which opened for bidding between September 21 and September 23 included fresh equity share issue of Rs 165 crore and an offer for sale of up to 45 lakh equity shares. The price band was fixed at Rs 338-340 per equity share.
The public offer was subscribed 149.05 times. While the retail portion was subscribed 40.65 times, qualified institutional buyers attracted 113.54 times subscription. The non-institutional investors segment received a subscription of 449.14 times.
Here is a guide on how to check allotment status:
Go to the registrar website - https://linkintime.co.in/IPO/public-issues.html
Click on the drop-down menu
Select the company name as Chemcon Speciality Chemicals. The investors must know that
the company name appears only after the allotment process reaches completion
Select one of the three boxes - 'Permanent Account Number (PAN)', 'Application Number' or 'Depository/Client ID'
Enter 'Permanent Account Number (PAN)' or 'Application Number' or 'Depository/Client ID - whichever is applicable and click search
Go to the BSE website on https://www.bseindia.com/investors/appli_check.aspx
Select the 'Equity' box
Select the 'Issue Name' in the dropdown menu as Chemcon Speciality Chemicals
Enter 'Application Number'
Enter 'Permanent Account Number (PAN.)'
Click on the 'Search' button
Meanwhile, the company intends to utilise the net proceeds from the fresh issue to meet capital expenditure for expansion of its manufacturing facility, fund working capital requirements and general corporate purposes. The Vadodara-based company exports products to global markets covering the US, Germany, Italy, South Korea, Japan, the United Arab Emirates, Serbia, Russia, Spain, Thailand and Malaysia.