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Balaji Speciality Chemicals IPO GMP, Price, Dates & Allotment Details 2023

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:

  1. Repayment or pre-payment, in full or in part, of certain outstanding borrowings availed by the company,
  2. Funding working capital requirements and general corporate purposes.

Financial Highlights (Restated)

ParticularsFY 2022-23FY 2021-22FY 2020-21FY 2019-20
Net Worth3661877968
Total Assets481402303304
Reserve & Surplus3261473928
Total Borrowings167204204
Total Revenue79951617654
Profit After Tax17810910(16)
(Amount in ₹ Crore)

IPO details

Issue TypeBook Built Issue IPO
IPO Price₹ [.] per share
Face Value₹ 2 per share
Market Lot
Issue Size[.] shares (aggregating up to ₹ 250 crores)
Fresh Issue26,000,000 shares (aggregating up to ₹ [.] crores)
Listing AtNSE, BSE

IPO Reservation

CategoriesNo. of shares offered
QIB shares offeredNot less than 75.00% of the net offer
NII (HNI) shares offeredNot more than 15% of the offer
Retail shares offeredNot 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 Holdings97.98%
Post-issue Shares Holdings

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
Company Contact InformationBalaji Speciality Chemicals Limited
2nd Floor, Balaji Towers No. 9/1A/1, Hotgi Road, Aasara Chowk, Solapur – 413224
Phone: +91 217 2606 006
Email: i[email protected]
Website: http://www.balajispecialitychemicals.com/
IPO RegistrarLink Intime India Private Ltd
Phone: +91-22-4918 6270
Email: [email protected]
Website: https://linkintime.co.in/mipo/ipoallotment.html
IPO Lead Manager(s)HDFC Bank LimitedJM Financial Limited

FAQs

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.

The Balaji Speciality Chemicals IPO shares listing date is August 30, 2023.

The investors’ portion for QIB is 75% of the Net offers, NII (HNI) is 15%, and retail is 10% of the offer.

Click here for more FAQs.

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