Archean Chemical Industries Limited is India’s largest exporter of bromine and industrial salt in Fiscal 2021. The company is the leading speciality marine chemical manufacturer in India and is focused on producing and exporting bromine, industrial salt, and sulphate of potash to customers around the world.
Archean Chemical Industries markets theproducts to 18 global customers in 13 countries and to 24 domestic customers. The company was the largest exporter of industrial salt in India with exports of 2.7 million MT in Fiscal 2021.
Archean Chemical Industries Limited are the largest exporter of Bromine from India. The company is the only manufacturer of sulphate potash in India. The company’s marine chemicals business is predominately conducted on a business-to-business basis both in India and internationally.
The company has an integrated production facility for the bromine, industrial salt, and sulphate of potash operations, located at Hajipir, Gujarat, located on the northern edge of the Rann of Kutch brine fields.
Strengths:
- Leading market position, expansion and growth in bromine and industrial salt.
- High entry barriers in the speciality marine chemicals industry.
- Established infrastructure and integrated production with cost efficiencies.
- Focus on environment and safety.
- Largest Indian exporter of bromine and industrial salt with a global customer base.
- Strong and consistent financial performance.
- Experienced management team, promoters and financial investors and stakeholders.
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Total Borrowing |
|---|---|---|---|---|---|
| 31-Mar-19 | 1260.51 | 572.91 | 39.97 | 42.37 | 772.02 |
| 31-Mar-20 | 1428.6 | 617 | -36.24 | 5.97 | 929.26 |
| 31-Mar-22 | 1529.68 | 1142.83 | 188.58 | 261.06 | 921.87 |
| 30-Jun-22 | 1606.65 | 408.82 | 84.41 | 345.44 | 915.58 |
| Amount in ₹ Crore |
Objects of the Issue
The Selling Shareholders will be entitled to their respective portion of the proceeds of the Offer for Sale.
The company proposes to utilise the Net Proceeds of the Fresh Issue towards funding the following objects:
1. Redemption or earlier redemption, in part or full, of NCDs issued by the Company.
2. General corporate purposes.
Archean Chemical IPO Details
| IPO Date | Nov 9, 2022 to Nov 11, 2022 |
| Listing Date | [.] |
| Face Value | ₹2 per share |
| Price | ₹386 to ₹407 per share |
| Lot Size | 36 Shares |
| Issue Size | 35,928,870 shares of ₹2 (aggregating up to ₹1,462.31 Cr) |
| Fresh Issue | 19,778,870 shares of ₹2 (aggregating up to ₹805.00 Cr) |
| Offer for Sale | 16,150,000 shares of ₹2 (aggregating up to ₹657.31 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| QIB Shares Offered | Not less than 75% of the Offer |
| NII (HNI) Shares Offered | Not more than 15% of the Offer |
| Retail Shares Offered | Not more than 10% of the Offer |
| Company Promoters | Chemikas Speciality LLP, Ravi Pendurthi and Ranjit Pendurthi are the company promoters. |
Archean Chemical IPO Tentative Timetable
Archean Chemical IPO opens on Nov 9, 2022, and closes on Nov 11, 2022. The Archean Chemical IPO bid date is from Nov 9, 2022 10.00 A.M. to Nov 11, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.
| Event | Tentative Date |
|---|---|
| Opening Date | Nov 9, 2022 |
| Closing Date | Nov 11, 2022 |
| Basis of Allotment | Nov 16, 2022 |
| Initiation of Refunds | Nov 17, 2022 |
| Credit of Shares to Demat | Nov 18, 2022 |
| Listing Date | Nov 21, 2022 |
Archean Chemical IPO Lot Size
The Archean Chemical IPO lot size is 36 shares. A retail-individual investor can apply for up to 13 lots (468 shares or ₹190,476).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 36 | ₹14,652 |
| Retail (Max) | 13 | 468 | ₹190,476 |
| S-HNI (Min) | 14 | 504 | ₹205,128 |
| B-HNI (Min) | 69 | 2,484 | ₹1,010,988 |
Archean Chemical IPO Promoter Holding
| Pre Issue Share Holding | 65.58% |
| Post Issue Share Holding | 53.41% |
Archean Chemical IPO Review
ACIL has created a niche place as a specialty chemical manufacturer and exporter. It has started bearing fruits for its undergoing downstream expansions that have helped in improving margins. Based on its FY23 earnings, the issue appears reasonably priced. Considering ongoing fancy for specialty chemical shares, investors may consider investing in this blue chip in the offing for medium to long-term rewards. Read detail review…
Archean Chemical IPO Subscription Status (Bidding Detail)
The Archean Chemical IPO is subscribed 0.00 times on Nov 9, 2022 10:04:00 AM. The public issue subscribed 0.02 times in the retail category, 0.00 times in the QIB category, and 0.00 times in the NII category. Check Day by Day Subscription Details (Live Status) Reload Subscription
| Category | Subscription (times) |
|---|---|
| QIB | 0.00 |
| NII | 0.00 |
| bNII (bids above ₹10L) | 0.00 |
| sNII (bids below ₹10L) | 0.01 |
| Retail | 0.02 |
| Total | 0.00 |
Archean Chemical IPO Prospectus
Company Contact Information
Archean Chemical Industries Limited
No. 2, North Crescent Road,
T Nagar, Chennai 600 017
Tamil Nadu, India
Phone: +91 44 6109 9999
Email: info@archeanchemicals.com
Website: https://www.archeanchemicals.com/
Archean Chemical IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: archean.ipo@linkintime.co.in
Website: https://linkintime.co.in/