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Chemcon Speciality Chemicals Limited IPO (Chemcon IPO) Detail

Sep 21, 2020 - Sep 23, 2020

Incorporated in 1988, Chemcon Speciality Chemicals Ltd is a manufacturer of specialized chemical products i.e. HMDS and CMIC. Its product portfolio includes oilfield chemicals (Calcium Bromide, Sodium Bromide, and Zinc Bromide), Pharma intermediates, Silanes, and chemicals contract manufacturing work.

Chemcon Chemicals is a leading manufacturer of Pharmaceutical chemicals and generates maximum revenue from this particular segment. Hetero Labs Limited, Laurus Labs Ltd, Aurobindo Pharma Ltd, Lantech Pharmaceuticals Ltd, Macleods Pharma Ltd are the key customers of its Pharma chemical business. However, Shree Radha Overseas, Universal Drilling Fluids, Water Systems Speciality are some of the clients of its oilfield chemicals segment. In 2018, it was the 8th largest manufacturer of HMDS and 2nd largest manufacturer of CMIC chemical worldwide.

Company not only serves the domestic market but also export its products in overseas market such as USA, China, Japan, UAE, Serbia, Russia, Malaysia, and Azerbaijan. It has a manufacturing plant at Manjusar near Vadodara in Gujarat, 5 operational plants, 3 warehouses, and 2 leased warehouses.

Competitive strengths

Largest manufacturer of pharmaceutical chemicals across the globe.
Leading oilfield chemicals manufacturer in India.
Diversified clientele base in the domestic and global markets.
Strong and consistent financial performance.
Dedicated manufacturing plants for each product.

Company Promoters:

KamalKumar Rajendra Aggarwal, Navdeep Naresh Goyal, and Shubharangana Goyal are the promoters of the company.

Company Financials:

Summary of financial Information (Restated Consolidated)
Particulars For the year/period ended (Rs in million)
31-Mar-20 31-Mar-19 31-Mar-18 31-Mar-17
Total Assets 2,257.92 1,730.33 970.66 626.80
Total Revenue 2,660.17 3,053.26 1,583.91 899.96
Profit After Tax 488.53 430.41 263.81 28.24

Objects of the Issue:

Firm purposes to utilize the net proceeds from the IPO towards below objectives;
To meet capital expenditures for expansion of manufacturing facility.
To meet business working capital requirements.
To meet general corporate purposes.

Chemcon IPO Details

IPO Opening Date Sep 21, 2020
IPO Closing Date Sep 23, 2020
Issue Type Book Built Issue IPO
Face Value ₹10 per equity share
IPO Price ₹338 to ₹340 per equity share
Market Lot 44 Shares
Min Order Quantity 44 Shares
Listing At BSE, NSE
Issue Size9,352,940 Eq Shares of ₹10
(aggregating up to ₹318.00 Cr)
Fresh Issue4,852,940 Eq Shares of ₹10
(aggregating up to ₹165.00 Cr)
Offer for Sale4,500,000 Eq Shares of ₹10
(aggregating up to ₹153.00 Cr)

Chemcon IPO Tentative Timetable

The Chemcon IPO open date is Sep 21, 2020, and the close date is Sep 23, 2020. The issue may list on Oct 1, 2020.

IPO Open Date Sep 21, 2020
IPO Close Date Sep 23, 2020
Basis of Allotment Date Sep 28, 2020
Initiation of Refunds Sep 29, 2020
Credit of Shares to Demat Account Sep 30, 2020
IPO Listing Date Oct 1, 2020

Chemcon IPO Lot Size

The Chemcon IPO market lot size is 44 shares. A retail-individual investor can apply for up to 13 lots (572 shares or ₹194,480).

Application Lots Shares Amount (Cut-off)
Minimum 1 44 ₹14,960
Maximum 13 572 ₹194,480

Chemcon IPO Promoter Holding

Pre Issue Share Holding 100%
Post Issue Share Holding 74.47%

Chemcon IPO Offer Size by Investor Category

The Percentage of Offer Size available for Allotment/allocation:

  • QIBs: 50%
  • Non-Institutional Investors: 15%
  • Retail Individual Investors: 35%

Chemcon IPO Subscription Status (Bidding Detail)

The Chemcon IPO is subscribed 149.30 times on Sep 23, 2020 18:48. The public issue subscribed 41.15 in the retail category, 113.54 in the QIB category, and 449.14 in the NII category. Check Day by Day Subscription Details (Live Status)

Application Wise IPO Subscription (Retail): 2322095 times

CategorySubscription (times)
QIB

113.54

NII

449.14

RII

41.15

Total

149.30

Chemcon IPO Prospectus

Chemcon IPO Rating

2008
4.2
Rating:Rated 4.2 stars
Vote Here ...

Chemcon IPO Listing Date

Listing Date Thursday, October 1, 2020
BSE Script Code 543233
NSE Symbol CHEMCON
Listing In B Group of Securities
ISIN INE03YM01018
IPO Price ₹340 per equity share
Face Value ₹10 per equity share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
BSE
₹340.00
₹730.95
₹584.80
₹743.80
₹584.80
NSE
₹340.00
₹731.00
₹584.80
₹731.25
₹584.80

Company Contact Information

Chemcon Speciality Chemicals Limited
Block Number 355, Manjusar Kunpad Road
Manjusar Village, Taluka Savli
Vadodara 391775
Phone: 91 98795 64107
Email: investor.relations@cscpl.com
Website: http://www.cscpl.com/

Chemcon IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: chemcon.ipo@linkintime.co.in
Website: http://www.linkintime.co.in

Chemcon IPO FAQs

Chemcon IPO is a main-board IPO of 9,352,940 equity shares of the face value of ₹10 aggregating up to ₹318.00 Crores. The issue is priced at ₹338 to ₹340 per equity share. The minimum order quantity is 44 Shares.

The IPO opens on Sep 21, 2020, and closes on Sep 23, 2020.

Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Zerodha customers can apply online in Chemcon IPO using UPI as a payment gateway. Zerodha customers can apply in Chemcon IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Chemcon IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Chemcon IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Chemcon IPO opens on Sep 21, 2020 and closes on Sep 23, 2020.

Chemcon IPO lot size is 44 Shares and the minimum order quantity is 44 Shares.

You can apply in Chemcon IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Chemcon IPO will be done on Sep 28, 2020, and the allotted shares will be credited to your demat account by Sep 30, 2020. Check the Chemcon IPO allotment status.

The Chemcon IPO listing date is on Thursday, October 1, 2020.

Chemcon IPO Message Board

Ranked Members  Ranked Members

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620. MS ASSOCIATE |Nov 1, 2020 16:10
News Update-
Financial Result Day announced-

Meeting of the Board of
Directors of the Company will be held on Friday, 06th November, 2020 inter alia,
to consider, approve and take on record the unaudited financial results of the
Company for the quarter and half year ended 30th September,2020
619. vaibhav gupta |Oct 18, 2020 22:46
Dear Sir/Madam
I Vaibhav Gupta have applied for Chemcon Speciality Chemicals IPO from Zerodha UPI so the blocked funds have not been released even after the mandate end date.
618. MS ASSOCIATE |Oct 17, 2020 17:19
Up move of share Price start after following this news ? ?

"CRISIL upgrades rating of Chemcon Speciality Chemicals Limited" BBB+Stable".
618.1. Have Faith |Oct 18, 2020 11:57
Associate ji , hope so up move start ho jaye
617. Anurup |Oct 5, 2020 18:49
Aniket sir,
Will there be more correction left in Chemcon
Or there will be possibility of bounce back .
Please advise sir wht to do , I have 44 IPO share and not sold till now
Please guide sir.
617.1. Aniketiaf |Oct 5, 2020 20:12
IPO Guru IPO Guru (1500+ Posts, 8900+ Likes)
Anurup ji,
After a long time you are active at the forum.
I hope, every thing will fine at your end.
In Chemcon, it was very easy to advise at a rate of 650+ but
After a correction of about 30% from top, now it's difficult to predict for a two days old listed company. There is not much data/graph is available to track the pattern for short term view, but still I believe Chemcon will must come towards 460-470 level (near my earlier expectation of 5000 RS listing gain candidate).
At that level also, I will not buy /average.
Thanks.
617.2. Anurup |Oct 15, 2020 12:41
Sir,
Ab to 5000 v listing gain nahi bacha hai. Kuch logo ne to bare bare Sapne dikhaye the. Sapno k jaal Mai ulajh kar Rahi Gaya Mai. Aapki baat nahi maan kar Bari galti kar di maine....
LALACH BURI BALA
616. SHREYANSH SANGHAVI |Oct 12, 2020 16:02
I got one allotment of Chemcon IPO can any body suggest me regarding sell of shares. Should I hold or sell the shares. As day to day chemcon share price is decreasing very much.
616.1. Have Faith |Oct 12, 2020 20:51
Sanjhavi ji same problem with me ...not able to sell and now regreating ..daily going down and down only
615. IPO Mitr |Oct 9, 2020 12:23
I am still in wait and watch mode for this stock. The stock was bound to trend lower due to too much of hype in IPO. Please note that despite so much of fall...stock is still 40-50% above the cost price of IPO and there may still be people who may look for profitable exit. I dont think it is fishy, it is just fear and greed playing out.

Oversold and Overbought status carry more meaning when data for longer duration is available. A stock just listed will remain in price discovery mode for few weeks at least specially the stocks which have extremely exuberant listing.

I am interested in the stock because I believe that chemical industry will give very good returns during next 1-2 years and hence keep it under watch.

Yes, you are right....there are many other good chemical companies also available.
615.1. IPO Mitr |Oct 10, 2020 14:23
With yesterday's and all time low at 481.4 and yesterday's closing at 485.55, the stock is continuously trending downward. There is no sign whatsoever of any significant buying to pull the stock back. On the other hand there is increase in stock volume on NSE and this could an indication for further weakness. May be bottom is yet to be reached.

Folks who have not sold yet are stuck now and the stock behavior so far has not instilled any confidence in the stock so far to kick start new buying.

As most other investors, I will remain on the fence and would not take a dip unless there are some indications of price stabilization or a minor pull back with some level of conviction.

Take advisor from your own stock advisors before acting. Suno sabki par karo sirf apne man ki.
615.2. IPO Mitr |Oct 19, 2020 14:38
This IPO was subscribed 41x by Retail Investors. But how many Retail Investors will think of investing in this stock at the current price......very few. This is what is herd Psychology of Retail investors.......buy what others are buying....and sell when everybody sells...

If money can be earned with this thinking, then no one will ever lose money in Stock market.

Stock market investment is not bank FD. Here someone will earn money only when someone else loses........Friends...play safe......it is your own money..
614. mailashish |Oct 6, 2020 14:48
Got 1 lot (44 stock) in IPO. But got hooked up in some other work so couldn't sell the shares on listing day. My bad!!!

Now it is trading at 533 as on 6th OCT 2.30PM.

Is it good to hold for a month with this hope that it may touch 700?
614.1. Rahul Popat |Oct 6, 2020 22:51
Top Contributor Top Contributor (200+ Posts, 400+ Likes)
Hold with strict stop loss..500
614.2. Rahul Popat |Oct 10, 2020 08:33
Top Contributor Top Contributor (200+ Posts, 400+ Likes)
Stop loss hit
613. P Patel |Oct 9, 2020 21:45
IPO Mentor IPO Mentor (600+ Posts, 600+ Likes)
Out of 9352940 offered shares.... 8420635 shares had deliverable sales and changed hands till date.

Something big cooking up...!!! OR Big hands have booked heavy profit. But BIG Question, who is buying this much????
612. IPO Mitr |Oct 5, 2020 10:47
Looking to enter Chemcon close to 500. Keeping this stock under close observation.
612.2. IPO Mitr |Oct 7, 2020 13:58
So down-trend continues....and we still do not have clue where the short term bottom is for this stock.

I believe if the stock goes below 500......flood of stop losses may trigger and that may further lower the price of this stock. Potentially that fall may give us an entry point for 10% bump in price.

Will continue to watch and track.....still un-decided about the entry point as trend is consistently down.

Consult your financial advisor. This is just my current ( for today) thinking about this stock and may change tomorrow.

Suno sabki par karo sirf apne man ki.
612.3. Srikanth C |Oct 9, 2020 10:09
I had kept stop loss of 530 and exited this stock. Had to take loss as want to minimize the loss and move to other stocks. Probably the mistake was to buy at higher level of 617. However I am still puzzled by the price discovery of 731. Stock going down to less than 500 after the price discovery in a week's time is some thing fishy. These things do happen and a big lesson learnt. I had hoped that due to overselling, this stock will rise but had to keep my stop loss. Even if it rises back, I will not enter this stock as there are many other alternates to choose.
611. Np patel |Oct 8, 2020 17:29
I feel this stock will follow its rival firm Fine organics which listed on discount and we can see what happened after that. Both the companies are in same field of specialist chemicals.
610. Rahul Popat |Oct 1, 2020 10:10
Top Contributor Top Contributor (200+ Posts, 400+ Likes)
Avoid buying
610.11. Rahul Popat |Oct 6, 2020 15:46
Top Contributor Top Contributor (200+ Posts, 400+ Likes)
Congratulations to all who follow my view
610.12. Rahul Popat |Oct 8, 2020 14:42
Top Contributor Top Contributor (200+ Posts, 400+ Likes)
Ignore hi karte rehna meri advice ko....
609. mailashish |Oct 7, 2020 11:38
@Rahul Phogat Ji:
U mentioned in one of the replies below that "I got allotment and sell at 731 in NSE at 9.45"
But market for IPO shares starts at 10.00 AM.

Pardon my ignorance. Can u explain how u were able to do this selling at 9.45 AM.
609.1. BINOD DALMIA |Oct 7, 2020 12:32
you can put your offer on opening day from 9 to 9.07am and if your price suit that it executed before 10 am and that price is opening price of that shares
609.2. Rahul Popat |Oct 8, 2020 14:41
Top Contributor Top Contributor (200+ Posts, 400+ Likes)
@mailashishji

On listing 9.45 pre open 1second trade for price match

On listing day you can put order between 9.15 to 9.44

If price match then you can buy or sell order execute
608. rsk |Oct 7, 2020 12:01
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
Ironically todays LC is at 420.
607. SSSan |Oct 6, 2020 12:06
I have bought at day 1 should I hold or sell?
What is your expectation in short term and long term?
Experts please advice.
606. Chem cho |Oct 4, 2020 06:10
IPO Guru IPO Guru (2200+ Posts, 2200+ Likes)
this share may go down
but not worth buying at lower levels
606.3. Rahul Popat |Oct 5, 2020 23:48
Top Contributor Top Contributor (200+ Posts, 400+ Likes)
Chem cho agree with your view
606.4. SSSan |Oct 6, 2020 12:05
Sir I have bought at day 1 should I hold or sell?
What is your expectation in short term and long term.
605. B Patidar |Oct 6, 2020 03:31
Very poor performance of linkintime. It credited Equity shares of Chemcone in my demat a/c after trading session on listing date, so I didn't get advantage of good listing price.
605.1. Rahul Popat |Oct 6, 2020 08:35
Top Contributor Top Contributor (200+ Posts, 400+ Likes)
I think you need to contact your broker.

This share will be credited your account, you can see it at the time of listing day not before that.
604. rsk |Oct 3, 2020 15:33
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
Please register on SCORES and lodge complaint:

Please find the below Details :
Complaint RegNo:      SEBIE/MH20/0011722/1
Status:      Action
Category:      Registrars to an Issue and Share transfer Agents
Nature Of Complaint:      Deficiency in services
Complaint Against:      LINK INTIME INDIA PVT. LTD.
Remarks:      Dear Sir, As per ATR submitted by Link Intime, the RTA vide email dated 30.09.2020 has informed you that they have already given instructions to ASBA Banker for unblocking of funds The hold release itself is an indication that the amount which was blocked earlier is now available for usage. Your total balance & available balance should be same. If you have any further grievance then kindly revert back to us within 7 days. Please be informed that we shall consider your complaint as closed in case we don?t receive any response from you within 7 days.
604.3. rsk |Oct 5, 2020 21:50
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
I have mentioned all entries, (remarks is their reply). I agree the site is not user friendly.
Category, Nature of complaint, complaint against linkin time.
IF you get a number, send that to chemcon.ipo@linkintime.co.in
604.4. rsk |Oct 5, 2020 22:00
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
First column on left:
List Companies/Registrars & Transfer Agents/Non-Demat and Remat > Drop down green arrow > Select Registrars and Transfer Agents > Wait, its slow. Once get the form > use deficiency in service > select linkintime using drop down.

I hope this helps
603. phrao |Oct 1, 2020 19:37
Top Contributor Top Contributor (300+ Posts, 400+ Likes)
Applied through kotak Mahindra bank
Not alloted,
But
Still not yet released my amount.
Any reason?
603.5. lokes |Oct 5, 2020 15:51
Top Contributor Top Contributor (400+ Posts, 200+ Likes)
for me it shows "Pending for RTA response" but i am able to use the amount...i am able to transfer the amount....i applied via kotak mobile app
603.6. rsk |Oct 5, 2020 18:29
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
Please register on SEBI at scores.gov.in and lodge a complaint against Linkintime for not releasing funds. Should be done in a day. Contact your RM at kotak if you have one.
602. Srikanth C |Oct 5, 2020 10:01
Price seems to be stable now around 550. Already 30 lakhs shares traded in NSE. There seems to be huge shorting today again as many might have expected it to hit lower circuit today but my view is short covering will happen today and stock will cross 600 level by evening. Please hold on to this and dont sell as selling in panic will help shorters only.
602.2. Srikanth C |Oct 5, 2020 15:31
Stock is in oversold region. Strong bounce back possible from tomorrow. Also, price discovery of 731 was surprising which trapped many retail investors. Stock should have been above 550 levels today but due to overselling, it has reached 530 levels.

Those who bought on day 1 can wait for the bounce back before exiting the stock. Keep strict stop loss of 516 which is today's low as I feel this will not be breached. if breached, further downside cannot be ruled out. However, I still feel stock can return robust returns in the long run. Oil Chemicals business was not doing well but it resumed in September as per management and since Pharma chemicals has already expanded the volume, it has more than covered up for the business in oil chemicals. Anything in oil chemicals is a bonus.
Expecting stock to bounce by 10 percent tomorrow till 600 levels.
602.3. lokes |Oct 5, 2020 15:40
Top Contributor Top Contributor (400+ Posts, 200+ Likes)
this share has repeated same last day history, no bounce at all....going in one direction
601. Ou Ai |Oct 5, 2020 13:45
Chemcon with past corporate governance issues is not likely to benefit shareholders even if the industry & the company does well. Investors looking to long term can buy Happiest mind at current prices. Has great potential over 5 to 10 year period