Chemplast Sanmar IPO to open on Aug 10; price band fixed at Rs 530-541

The company aims to raise Rs 3,850 crore through the IPO, which will include Rs 1,300 crore fresh issue and offer for sale up to Rs 2,550 crore by promoters

Chennai-based Chemplast Sanmar, a speciality chemical manufacturer with focus on paste PVC resin, will launch its initial public offering (IPO) on August 10 at a price band of Rs 530-541 per equity share.

The company is targeting to raise around Rs 3,850 crore through the IPO, which will include Rs 1,300 crore fresh issue and offer for sale up to Rs 2,550 crore by promoters Sanmar Holdings and Sanmar Engineering Services, who own 100 per cent of the company at present.

Chemplast is planning to use the IPO proceeds for early redemption of non-convertible debentures (NCDs) of about Rs 1,238.5 crore and