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Balaji Speciality Chemicals Limited IPO Detail

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

The below given IPO details are not confirmed yet by the officials. We will make the changes according to the official announcements. Stay tuned for the updates.

IPO Opening DateAug 18, 2023
IPO Closing DateAug 22, 2023
Issue TypeBook Built Issue IPO
Face Value₹2 per equity share
Market LotTBA
Min Order QuantityTBA
Listing AtBSE, NSE
Issue Size₹250.00 Cr
Fresh Issue26,000,000 shares of ₹2 (aggregating up to ₹[.] Cr)
Offer for Sale-
Retail Portion 35%

IPO Subscription (Bidding Detail)

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 DateAug 18, 2023
IPO Close DateAug 22, 2023
Basis of Allotment DateAug 25, 2023
Initiation of RefundsAug 28, 2023
Credit of Shares to Demat AccountAug 29, 2023
IPO Listing DateAug 30, 2023

IPO Promoter Holding

Pre Issue Share Holding97.98%
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:

  1. Repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by the company,
  2. 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