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Motilal Oswal Report
Chemcon Speciality Chemicals Ltd. is the only manufacturer of HMDS (hexamethyldisilazane) in India and third largest globally.
It is also the largest player of CMIC (Chloromethyl Isopropyl Carbonate) in India and second largest worldwide.
Additionally, Chemcon Speciality is the only manufacturer of Zinc Bromide and the largest of Calcium Bromide in India.
40% of the revenues come from export which has grown at a compound annual growth rate of 18% over FY18-20.
The Company enjoys high entry barriers which leads to client stickiness and long standing relationships.
Issue Size: The Rs 3.2 billion IPO consists of fresh issue of Rs 1.7 billion and offer for sale (4.5 million shares by promoter) of Rs 1.5 billion which would result in promoter's stake reducing from 100% pre-IPO to 74.5% post-IPO.
The funds raised from fresh issue will be utilized to fund capex, meet working capital requirements and for general corporate purpose.
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