Archean Chemical IPO subscription opens today: Check price band, allotment date and listing date NSE, BSE

Archean Chemical IPO Date, Price Band, Allotment Date, Listing Date: Archean Chemical’s initial public offering (IPO) opens on Wednesday for subscription. The subscription window for the IPO of the chemical manufacturer will end on November 11. The firm is focused on producing and exporting bromine, industrial salt, and sulphate of potash to customers around the world.

Archean Chemical IPO Price Band

The company has fixed a price band of Rs 386-407 per share. At the upper end of the price band, the IPO is expected to fetch Rs 1,462.3 crore.

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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 Piramal Group and Bain Capital.

Specialty marine chemical manufacturer Archean Chemical Industries has allocated 1,61,67,991 equity shares to anchor investors at Rs 407 apiece, aggregating the transaction size to Rs 658 crore, according to a circular on BSE's website. The firm had raised Rs 658 crore from anchor investors ahead of its initial public offering on Tuesday.

Goldman Sachs, Abu Dhabi Investment Authority, Segantii India Mauritius, BNP Paribas, Societe Generale, Government Pension Fund Global, ICICI Prudential, DSP Small Cap Fund, Tata Mutual Fund (MF), SBI MF, Nippon India MF and Aditya Birla Sunlife Insurance have invested in the company via anchor book.

Archean Chemical IPO Allotment Date

Archean Chemical IPO allotment date is November 16.

Archean Chemical IPO Listing Date NSE, BSE

Archean Chemical IPO listing date is November 21, the company will be listed both in BSE and NSE.

IIFL Securities, ICICI Securities and JM Financial are the book-running lead managers to the IPO.

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