Chemcon IPO allotment details: How to check the status online? Find out here

Investors including High net worth individuals have been anticipating the share allotment of the Chemcon Speciality Chemicals. Its issue had received 149.30 times in bids last week. Follow the steps given below in order to check the IPO allotment status oof Chemcon Speciality Chemicals - 

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Chemcon Speciality Chemicals IPO allotment process - 

• Access the BSE website here

• In order to check the Happiest Minds IPO allotments status, Select the 'Equity' option from the drop-down menu and select 'Chemcom Speciality Chemicals'. 

• Users should note that the company will only be visible in the drop-down menu if the allotment is done 

• Enter Application Number 

• Enter PAN number 

• Click on the 'Search' option

Image courtesy- official BSE website

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Chemcon is a Vadodara-based speciality chemical manufacturer that has been leading its specific industry. The IPO had closed for a subscription after September 23, and the price band for the same was set between ₹338-340 per equity. The company has provided a ₹320-crore public offering which also consists of a freshly issued ₹165 crores along with an offer of sale in 45 lakhs in equity share. It has an upper price band of ₹ 153 crores. 

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It is helmed by promoters Kamalkumar Rajendra Aggarwal and Naresh Vijaykumar Goyal which will result in per cent of 74.5 for the promoters after the IPO as opposed to the 100 per cent before it. Thus, the current IPO allotment for Chemcon Speciality Chemicals is evidently a significant one.

Whereas, the funds raised from the fresh issue will be inculcated in meeting the working capital to ruin the operations. They will also be directed towards the increase in the manufacturing facilities along with carrying out daily corporate purposes. The company has reported revenue from the operations to be ₹ 262.05 crores, the debt ratio for the company is 0.3% thus they do not have clear off any debt with the acquired capital. 

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The company expects that in the next 18-months, the expansion of manufacturing institutions and the desired growth of revenue will be met. Since Pharma has been selling like hotcakes in recent days, Chemicon sits at the right spot to expand. The allotment of IPO for Chemcon Specialists Chemicals is expected to go on floors today, i.e September 38, 2020.