Editorial April 2021 Indian Chemical Industry IPOs How are they doing

Rajiv Parikh

16 May 2021

There’s has been a surge of Chemical Companies IPO launch in recent times. In general, the stock market has also been a roller coaster ride lately and has been high since last year after the Covid-19 lockdown. The IPOs that came to being in the past few years are listed below. Where do they stand today and what’s in it for the times to come?
 
Galaxy Surfactants Limited (Consolidated Results)
# Issuer Company Listing Date Issue Price (In Rs) Issue Size (in Cr)
1 Laxmi Organic Industries Limited IPO 25-Mar-21 130 600
2 Anupam Rasayan India Limited IPO 24-Mar-21 555 760
3 Chemcon Speciality Chemicals Limited IPO 1-Oct-20 340 318
4 Rossari Biotech Ltd IPO 23-Jul-20 425 496.49
5 Neogen Chemicals Limited IPO 8-May-19 215 132.35
6 Deep Polymers Limited IPO 23-Aug-18 40 15.24
7 Fine Organic Industries Limited IPO 2-Jul-18 783 600.2
8 Yasho Industries Limited IPO 2-Apr-18 100 28.99
9 Galaxy Surfactants Limited IPO 8-Feb-18 1480 937.09
10 Yug Decor Ltd IPO 31-May-17 26 2.88
11 Chemcrux Enterprises Ltd IPO 28-Mar-17 24 2.4
12 Yash Chemex Ltd IPO 20-Jun-16 23 2.51
13 Shree Pushkar Chemicals and Fertilisers Ltd IPO 10-Sep-15 65 70
14 Fineotex Chemical Ltd IPO 11-Mar-11 70 29.38
15 Omkar Speciality Chemicals Ltd IPO 10-Feb-11 98 79.38
16 Alkali Metals Limited IPO 6-Nov-08 103 26.27
17 Kiri Dyes and Chemicals Limited IPO 22-Apr-08 150 56.25
18 Meghmani Organics Limited IPO 28-Jun-07 19 102
19 Asahi Songwon Colors Ltd IPO 4-Jun-07 90 33.5

On a higher level view, the Chinese economy has been suffering due to the pollution norms which made several hundred thousand factories stranded to comply with new pollution norms. This gave a great opportunity for the Indian chemical companies to flourish. Moreover the exports that used to happen from China at a very steep discount when there were no pollution norms will be forced to come at a competitive prices with Indian manufacturers and whenever there’s a choice, the customers will always choose Indian manufacturers then Chinese products. Also, there has been a trade war on the verge of escalation, mostly from US and European countries that will help Indian manufacturers to export more. (data from NSE/BSE)

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