Looking for investing money in some good IPOs, then this news is definitely for you. The IPO of two companies is coming next week. Angel broking and Chemcon Specialty Chemicals are launching their IPOs next week. The IPO of Chemcon Specialty Chemicals will enter the stock market on September 21, while the IPO of Angel Broking will come on September 22.
IPO of Chemcon Specialty Chemicals
Its IPO will open on 21 September i.e. on Monday. The company has fixed the price band for 338 to 340 rupees per share. The company said that under the IPO, new shares up to the value of Rs 165 crore will be issued while 45 lakh shares of the promoters will be put up for sale offer. The company’s IPO will close on 23rd September. The lot size of this IPO is 44 shares, which means Rs 14872 will be required for 1 lot.
What does Chemcon Specialty Chemicals do?
The company manufactures chemicals for pharma companies. The company is an expert in manufacturing Hexamethyldisilazane (HMDS) and Chloromethyl Isopropyl Carbonate (CMIC). The company is the only Indian company to make HMDS and the third-largest company in the world. The company’s products are exported to the US, Italy, South Korea, Germany, China, Japan UAE, Russia, Spain. Kamal Kumar Rajendra Agarwal is the chairman and MD of this company. Currently, promoters hold a 100% stake in the company. The company has 7 shareholders.
IPO of Angel Broking
Angel Broking’s IPO will be available on the very next day i.e, 22 September. The company is expected to raise INR 600 crore through this IPO. The price band of this IPO has been fixed from 305 to 306 rupees per share. The IPO will close on 24th September. The company is aiming to raise INR 600 crore through the issue. In this, new shares of INR 300 crore will be issued, while the promoters and other shareholders of the company will offer the sale of shares worth INR 300 crore. Anchor investors will be able to bid only on September 21. The lot size for the IPO is 49 shares which cost you INR 14945.
What does Angel Broking do?
Angel Broking is a financial service provider company. It provides customers with broking and advisory services, margin funding, loans against shares and financial products through its subsidiary AFPL. Angel Broking is the fourth largest broker on the NSE in terms of active clients. Its market share was 6.3 percent by June 2020. Before this, the IPO of IT service provider Happiest Minds Technology had a bang-up listing, through this issue, people’s money doubled in a single day.