Balaji Speciality Chemicals IPO GMP, Price, Dates & Allotment Details 2023
Introduction
The Balaji Speciality Chemicals IPO opening and closing dates have yet to be announced.. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 250 crores through this public issue.
Balaji Speciality Chemicals Limited (“the Company”)
Balaji Speciality Chemicals Limited commenced operations in 2019. It is the sole manufacturer in India of niche chemicals such as Ethylenediamine, Piperazine (Anhydrous), Diethylenetriamine, Amino Ethyl Ethanol amines, and Amino Ethyl piperazine using the Monoethanol Amine (“MEA”) process (Source: CRISIL Report).
This is a subsidiary of Balaji Amines Limited (“BAL”), one of the leading manufacturers of aliphatic amines in India.
The chemicals they manufacture are import substitutes and are used in various end-use industries such as specialty chemicals, agrochemicals, and pharmaceuticals.
The company commenced commercial production in June 2019 from its own manufacturing facility located in Solapur, Maharashtra, and has since scaled its operations and grown its brand and customer base to become one of the fastest-growing specialty chemicals companies in India (Source: CRISIL Report).
Objects of the Issue,
The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:
- Repayment or pre-payment, in full or in part, of certain outstanding borrowings availed by the company,
- Funding working capital requirements and general corporate purposes.
Financial Highlights (Restated)
| Particulars | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|
| Net Worth | 366 | 187 | 79 | 68 |
| Total Assets | 481 | 402 | 303 | 304 |
| Reserve & Surplus | 326 | 147 | 39 | 28 |
| Total Borrowings | – | 167 | 204 | 204 |
| Total Revenue | 799 | 516 | 176 | 54 |
| Profit After Tax | 178 | 109 | 10 | (16) |
IPO details
| Issue Type | Book Built Issue IPO |
| IPO Price | ₹ [.] per share |
| Face Value | ₹ 2 per share |
| Market Lot | – |
| Issue Size | [.] shares (aggregating up to ₹ 250 crores) |
| Fresh Issue | 26,000,000 shares (aggregating up to ₹ [.] crores) |
| Listing At | NSE, BSE |
IPO Reservation
| Categories | No. of shares offered |
|---|---|
| QIB shares offered | Not less than 75.00% of the net offer |
| NII (HNI) shares offered | Not more than 15% of the offer |
| Retail shares offered | Not more than 10% of the offer |
GMP: Balaji Speciality Chemicals IPO
GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.
Promoters Holdings
Balaji Amines Limited, Ande Prathap Reddy, Ande Srinivas Reddy, Ram Reddy Dundurapu, Rajeshwar Reddy Nomula, and Gaddam Hemanth Reddy are the promoters of the company.
| Pre-issue Shares Holdings | 97.98% |
| Post-issue Shares Holdings | – |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP |
| Company Contact Information | Balaji Speciality Chemicals Limited 2nd Floor, Balaji Towers No. 9/1A/1, Hotgi Road, Aasara Chowk, Solapur – 413224 Phone: +91 217 2606 006 Email: iinvestors@balajispecialitychemical.com Website: http://www.balajispecialitychemicals.com/ |
| IPO Registrar | Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: balajispeciality.ipo@linkintime.co.in Website: https://linkintime.co.in/mipo/ipoallotment.html |
| IPO Lead Manager(s) | HDFC Bank LimitedJM Financial Limited |
FAQs
When will the Balaji Speciality Chemicals IPO allotment be available?
The finalisation of the basis of allotment for the Balaji Speciality Chemicals IPO will be done on August 25, 2023, and the allotted shares will be credited to your demat account by August 29, 2023. Check the Balaji Speciality Chemicals IPO allotment status.
When will the Balaji Speciality Chemicals IPO list on exchanges?
The Balaji Speciality Chemicals IPO shares listing date is August 30, 2023.
How many Balaji Speciality Chemicals IPO Offer shares are reserved for HNIs and retail investors?
The investors’ portion for QIB is 75% of the Net offers, NII (HNI) is 15%, and retail is 10% of the offer.
