Incorporated in 2010, Balaji Speciality Chemicals Limited, a subsidiary of Balaji Amines Limited (BAL), manufactures methylamines, ethylamine, derivatives of specialty chemicals, and pharma excipients.
The company manufactures niche chemicals such as Ethylenediamine, Piperazine (Anhydrous), Diethylenetriamine, Amino Ethyl Ethanol Amines, and Amino Ethyl Piperazine, using the Monoethanol Amine (“MEA”) process. These chemicals are import substitutes and are used in various end-use industries such as specialty chemicals, agrochemicals, and pharmaceuticals.
Balaji Speciality Chemicals’ manufacturing unit is located in Solapur, Maharashtra. The manufacturing facility is spread across 41,920 square meters and had an aggregate annual installed capacity of 30,000 MT per annum as of March 31, 2022.
In Fiscal 2022, the company sold its products to 182 customers which include manufacturers of specialty chemicals, agrochemicals, and pharmaceuticals as well as distributors. The company’s client list includes Nanjing Union Chemical Company Limited, Korea India Limited, UPL Limited, Dr. Reddy’s Laboratories Limited, and Aarti Drugs Limited.
The company generated ₹538.81 million of revenue from operations in Fiscal 2020, ₹1,744.01 million in Fiscal 2021, and ₹5,142.80 million in Fiscal 2022.
Balaji Speciality Chemicals IPO Details
Balaji Speciality Chemicals IPO is a Book Built Issue. The IPO total issue size is Rs [.]. The Balaji Speciality Chemicals IPO price is [.] to [.] per share. The IPO will list on BSE, NSE.
| IPO Date | Aug 18, 2023 to Aug 22, 2023 |
| Listing Date | [.] |
| Face Value | ₹2 per share |
| Price | [.] to [.] per share |
| Lot Size | |
| Total Issue Size | |
| Fresh Issue | [.] shares (aggregating up to ₹250.00 Cr) |
| Offer for Sale | 26,000,000 shares of ₹2 (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 200,000,000 |
Balaji Speciality Chemicals IPO Reservation
| QIB Shares Offered | Not more than 50% of the Net Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
Balaji Speciality Chemicals IPO Timetable (Tentative)
Balaji Speciality Chemicals IPO opens on Aug 18, 2023, and closes on Aug 22, 2023.
| IPO Open Date | Friday, 18 August 2023 |
| IPO Close Date | Tuesday, 22 August 2023 |
| Basis of Allotment | Friday, 25 August 2023 |
| Initiation of Refunds | Monday, 28 August 2023 |
| Credit of Shares to Demat | Tuesday, 29 August 2023 |
| Listing Date | Wednesday, 30 August 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Aug 22, 2023 |
Balaji Speciality Chemicals IPO Promoter Holding
Balaji Amines Limited, Ande Prathap Reddy, Ande Srinivas Reddy, Ram Reddy Dundurapu, Rajeshwar Reddy Nomula, and Gaddam Hemanth Reddy are the company’s promoters.
| Pre Issue Share Holding | 97.98% |
| Post Issue Share Holding |
Company Financials
| Period Ended | 31 Mar 2020 | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 304.24 | 303.04 | 401.61 | 480.98 |
| Revenue | 54.12 | 175.88 | 516.04 | 798.74 |
| Profit After Tax | -15.87 | 10.40 | 108.95 | 178.14 |
| Net Worth | 68.13 | 78.53 | 187.48 | 365.55 |
| Reserves and Surplus | 28.13 | 38.53 | 147.48 | 325.55 |
| Total Borrowing | 203.55 | 204.41 | 166.64 |
Amount in ₹ Crore
Objects of the Issue
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by the company,
- Funding working capital requirements and general corporate purposes.
Balaji Speciality Chemicals IPO Prospectus
Company Contact Information
Balaji Speciality Chemicals Limited
2 nd Floor, Balaji Towers No. 9/1A/1,
Hotgi Road, Aasara Chowk,
Solapur – 413224
Phone: +91 217 2606 006
Email: investors@balajispeciali
Website: http://www.balajispecialitychemicals.com/
Balaji Speciality Chemicals IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: balajispeciality.ipo@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html