Balaji Speciality Chemicals Limited IPO Detail
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.
Company Promoters
Balaji Amines Limited, Ande Prathap Reddy, Ande Srinivas Reddy, Ram Reddy Dundurapu, Rajeshwar Reddy Nomula, and Gaddam Hemanth Reddy are the company's promoters.IPO Details
| IPO Opening Date | Aug 18, 2023 |
| IPO Closing Date | Aug 22, 2023 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹2 per equity share |
| IPO Price | TBA |
| Market Lot | TBA |
| Min Order Quantity | TBA |
| Listing At | BSE, NSE |
| Issue Size | ₹250.00 Cr |
| Fresh Issue | 26,000,000 shares of ₹2 (aggregating up to ₹[.] Cr) |
| Offer for Sale | - |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.00x | - | - | 0.00x | 0.00x | 0.00x |
| Day 2 | 0.00x | - | - | 0.00x | 0.00x | 0.00x |
| Day 3 | 0.00x | - | - | 0.00x | 0.00x | 0.00x |
| Day 4 | 0.00x | - | - | 0.00x | 0.00x | 0.00x |
| Day 5 | 0.00x | - | - | 0.00x | 0.00x | 0.00x |
| Day 6 | 0.00x | - | - | 0.00x | 0.00x | 0.00x |
| Day 7 | 0.00x | - | - | 0.00x | 0.00x | 0.00x |
| Day 8 | 0.00x | - | - | 0.00x | 0.00x | 0.00x |
| Day 9 | 0.00x | - | - | 0.00x | 0.00x | 0.00x |
| Day 10 | 0.00x | - | - | 0.00x | 0.00x | 0.00x |
IPO Tentative Timetable
The Balaji Speciality Chemicals Limited IPO open date is Aug 18, 2023, and the close date is Aug 22, 2023. The issue may list on Aug 30, 2023.
| IPO Open Date | Aug 18, 2023 |
| IPO Close Date | Aug 22, 2023 |
| Basis of Allotment Date | Aug 25, 2023 |
| Initiation of Refunds | Aug 28, 2023 |
| Credit of Shares to Demat Account | Aug 29, 2023 |
| IPO Listing Date | Aug 30, 2023 |
IPO Promoter Holding
| Pre Issue Share Holding | 97.98% |
| Post Issue Share Holding |
Company Financials:
For the year/period ended (₹ in Crore)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 303.04 | 175.88 | 10.40 |
| 31-Mar-22 | 401.61 | 516.04 | 108.95 |
| 31-Mar-23 | 480.98 | 798.74 | 178.14 |
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 Limited IPO Registrar:
Link Intime India Private Ltd
Balaji Speciality Chemicals Limited IPO Lead Manager(s):
Hdfc Bank Limited Jm Financial Limited
Company Contact Information:
Balaji Speciality Chemicals Limited
2 nd Floor, Balaji Towers No. 9/1A/1, Hotgi Road, Aasara Chowk
Solapur
Solapur
