Here we list out important Archean Chemical IPO details in 10 points:
1] Archean Chemical IPO GMP: As per the market observers, Archean Chemical IPO grey market premium (GMP) today is ₹70 per equity share.
2] Archean Chemical IPO subscription dates: The public issue will open on 9th November and it will remain open till 11th November 2022.
3] Archean Chemical IPO price: The chemical company has fixed price band of the public offer at ₹386 to ₹407 per equity share.
4] Archean Chemical IPO size: The company aims to raise ₹1,462.31 crore from its public offer out of which ₹657.31 crore is reserved via offer for sale (OFS) route.
5] Archean Chemical IPO lot size: A bidder will be able to apply in lots and one lot will comprise 36 company shares.
6] Archean Chemical IPO allotment date: The tentative date for share allocation is 16th November 2022.
7] Archean Chemical IPO listing: The public issue is proposed for listing on both NSE and BSE.
8] Archean Chemical IPO listing date: The chemical company's share is likely to list on 21st November 2022.
9] Archean Chemical IPO registrar: Link Intime India Private Ltd has been appointed as official registrar of the public offer.
10] Archean Chemical IPO review: Highlighting fundamentals of the chemical company, Axis Capital says, "Archean has an integrated production facility for their bromine, industrial salt, and sulphate of potash operations, located at Hajipir, Gujarat, which is located on the northern edge of the Rann of Kutch brine fields and it is located in close proximity to the captive Jakhau Jetty and Mundra Port," adding, "The bromine is used as a key initial level material, which has applications in the pharmaceuticals, agrochemicals, water treatment, flame retardant, additives, oil & gas, and energy storage batteries Archean commands a leadership position in Indian bromine merchant sales (traded bromine in the market) by volume in Fiscal 2021."
Industrial salt is the principal material in chlorine and caustic soda production (together, known as chloralkali) and is widely used in the chemical and food and beverage industries. Archean exported 100% of their industrial salt production, primarily to customers in Japan and China.
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