{"id":24965,"date":"2022-11-03T13:07:00","date_gmt":"2022-11-03T07:37:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-ipo-archean\/"},"modified":"2022-11-03T13:05:40","modified_gmt":"2022-11-03T07:35:40","slug":"biz-ipo-archean-chemical","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-ipo-archean-chemical\/","title":{"rendered":"Archean Chemical Industries IPO to open on Nov 9; sets price band at Rs 386-407\/share"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2010905040\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Archean Chemical Industries, a speciality marine chemical manufacturer, on Thursday said it has fixed a price band of Rs 386-407 a share for its Rs 1,462-crore initial public offering (IPO).<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1073316291\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>The initial share-sale will open for public subscription on November 9 and conclude on November 11. The bidding for anchor investors will open on November 7, according to the company.<\/p>\n<p>The IPO consists of a fresh issue of equity shares aggregating up to Rs 805 crore and an offer-for-sale (OFS) of up to 1.61 crore shares by the promoter and investors, including the India Resurgence Fund, a joint venture between the Piramal Group and Bain Capital.<\/p>\n<p>Promoter Chemikas Speciality will sell 20 lakh shares via OFS, while investors Piramal Natural Resources and India Resurgence Fund will sell 38.35 lakh shares each. India Resurgence Fund II will divest 64.78 lakh shares.<\/p><div class=\"trade-content_5\" id=\"trade-761276738\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>At the upper end of the price band, the IPO is expected to fetch Rs 1,462.3 crore.<\/p>\n<p>As per the company, 75 per cent of the issue size has been reserved for qualified institutional investors, 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors.<\/p>\n<p>Investors can bid for a minimum of 36 shares and in multiples thereof.<\/p>\n<p>The company plans to use the proceeds of the fresh issue for the redemption of non-convertible debentures (NCDs) issued by it.<\/p>\n<p>Archean is focused on producing and exporting bromine, industrial salt, and sulphate of potash to customers around the world. It produces its products from its brine reserves in the Rann of Kutch, located on the coast of Gujarat, and manufactures products at its facility near Hajipir in Gujarat.<\/p>\n<p>The bromine produced by Archean is used as key initial level material, which has applications in pharma, agrochemicals, water treatment, flame retardant, additives, oil &amp; gas and energy storage segments.<\/p><div class=\"trade-content-10\" id=\"trade-2811458042\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>Industrial salt is an important raw material used in the chemical industry for the production of various other chemicals and compounds and sulphate of potash is used as a fertilizer and also has medical uses.<\/p>\n<p>IIFL Securities, ICICI Securities and JM Financial are the book running lead managers to the IPO. PTI SP DRR DRR<\/p>\n<div class=\"trade-after-content\" id=\"trade-2320986076\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Archean Chemical Industries, a speciality marine chemical manufacturer, on Thursday said it has fixed a price band of Rs 386-407 a share for its Rs 1,462-crore initial public offering (IPO). The initial share-sale will open for public subscription on November 9 and conclude on November 11. The bidding for anchor investors will open on November [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":17570,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1516,31,1789],"tags":[],"class_list":["post-24965","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo","category-news","category-trending-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Archean Chemical Industries IPO to open on Nov 9; sets price band at Rs 386-407\/share - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-ipo-archean-chemical\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Archean Chemical Industries IPO to open on Nov 9; sets price band at Rs 386-407\/share\" \/>\n<meta property=\"og:description\" content=\"Archean Chemical Industries, a speciality marine chemical manufacturer, on Thursday said it has fixed a price band of Rs 386-407 a share for its Rs 1,462-crore initial public offering (IPO). 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