April 20, 2024

Archean Chemical Industries Limited raises ₹ 658 crore from 42 anchor investors at the upper price band of ₹ 407 per equity share

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  • Archean Chemical Industries Limited allocates 1,61,67,991 equity shares at the upper price band of ₹ 407 per equity share
  • Marquee investors include – SBI Mutual Funds (through their various funds), Nippon India Fund, ICICI Prudential Fund, HDFC Mutual Fund, Goldman Sachs Fund, Ashoka India Opportunities Fund, DSP Fund, IIFL Funds, Kotak Fund Motilal Fund, Tata Mutual Fund, Theleme India Fund, Baroda BNP Paribas Fund, Edelweiss Fund and Foreign funds -Abhu Dhabi Investment Authority, Government pension fund global, Societe Generale, BNP Paribas etc.
  • Out of the total allocation of 1,61,67,991 Equity Shares to the Anchor Investors, 98,28,072 Equity Shares (i.e. 61% of the total allocation to Anchor Investors) were allocated to 10 domestic mutual funds through a total of 21 schemes
  • Non-anchor offer is open from Wednesday, November 09th, 2022 to Friday, November 11th, 2022

Archean Chemical Industries Limited allotted 1,61,67,991 equity shares at the upper price band of ₹ 407 per equity share to 42 anchor investors and raised ₹ 658 crore ahead of the company’s proposed IPO.

The anchor allocation is as follows:

S. No. Name of Anchor Investor No. of Equity Shares allocated Bid price (INR) Percentage of the Anchor Investor Portion (%) Total Amount Allocated (₹)
1 SBI LARGE & MIDCAP FUND 24,32,448 407.00 15.04% 99,00,06,336
2 SBI CONSERVATIVE HYBRID FUND 6,14,268 407.00 3.80% 25,00,07,076
3 SBI MAGNUM COMMA FUND 2,94,840 407.00 1.82% 11,99,99,880
4 SBI RESURGENT INDIA OPPORTUNITIES SCHEME 2,21,112 407.00 1.37% 8,99,92,584
5 SBI EQUITY SAVINGS FUND 2,21,112 407.00 1.37% 8,99,92,584
6 SBI MAGNUM CHILDRENS BENEFIT PLAN 24,552 407.00 0.15% 99,92,664
7 SBI MAGNUM CHILDRED’S BENEFIT FUND – INVESTMENT PLAN 2,45,700 407.00 1.52% 9,99,99,900
8 SBI OPTIMAL EQUITY FUND – LONG TERM 1,22,868 407.00 0.76% 5,00,07,276
9 NIPPON LIFE INDIA TRUSTEE LTD – A/C NIPPON INDIA SMALL CAP FUND 11,05,632 407.00 6.84% 44,99,92,224
10 ICICI PRUDENTIAL SMALLCAP FUND 11,05,632 407.00 6.84% 44,99,92,224
11 HDFC MUTUAL FUND-HDFC MULTI CAP FUND 11,05,632 407.00 6.84% 44,99,92,224
12 GOLDMAN SACHS FUNDS – GOLDMAN SACHS INDIA EQUITY PORTFOLIO 11,05,632 407.00 6.84% 44,99,92,224
13 ASHOKA INDIA OPPORTUNITIES FUND 7,37,100 407.00 4.56% 29,99,99,700
14 DSP  SMALL CAP FUND 7,37,100 407.00 4.56% 29,99,99,700
15 ABU DHABI INVESTMENT AUTHORITY – STABLE 6,14,268 407.00 3.80% 25,00,07,076
16 PUBLIC SECTOR PENSION INVESTMENT BOARD – IIFL ASSET MANAGEMENT LIMITED 3,68,604 407.00 2.28% 15,00,21,828
17 KOTAK TAX SAVER SCHEME 2,45,700 407.00 1.52% 9,99,99,900
18 KOTAK BALANCED ADVANTAGE FUND 2,45,700 407.00 1.52% 9,99,99,900
19 KOTAK SMALL CAP FUND 2,45,700 407.00 1.52% 9,99,99,900
20 KOTAK FUNDS – INDIA MIDCAP FUND 3,68,568 407.00 2.28% 15,00,07,176
21 GOVERNMENT PENSION FUND GLOBAL 3,68,568 407.00 2.28% 15,00,07,176
22 IIFL HIGH GROWTH COMPANIES FUND 2,21,130 407.00 1.37% 8,99,99,910
23 HIGH CONVICTION FUND – SERIES 1 2,21,130 407.00 1.37% 8,99,99,910
24 ABAKKUS EMERGING OPPORTUNITIES FUND I 2,45,736 407.00 1.52% 10,00,14,552
25 ADITYA BIRLA SUNLIFE INSURANCE COMPANY LIMITED 2,45,736 407.00 1.52% 10,00,14,552
26 KOTAK MAHINDRA LIFE INSURANCE COMPANY LTD 2,45,736 407.00 1.52% 10,00,14,552
27 MOTILAL OSWAL LARGE AND MIDCAP FUND 2,45,736 407.00 1.52% 10,00,14,552
28 TATA MUTUAL FUND -TATA EQUITY P/E FUND 2,45,736 407.00 1.52% 10,00,14,552
29 THELEME INDIA MASTER FUND LIMITED 2,45,736 407.00 1.52% 10,00,14,552
30 BNP PARIBAS FUNDS INDIA EQUITY 2,45,736 407.00 1.52% 10,00,14,552
31 BARODA BNP PARIBAS MULTI CAP FUND 1,22,868 407.00 0.76% 5,00,07,276
32 BARODA BNP PARIBAS LARGE CAP FUND 1,22,868 407.00 0.76% 5,00,07,276
33 SEGANTII INDIA MAURITIUS 1,22,868 407.00 0.76% 5,00,07,276
34 ELARA INDIA OPPORTUNITIES FUND 1,22,868 407.00 0.76% 5,00,07,276
35 EDELWEISS TRUSTEE CO LTD AC – EDELWEISS MF AC – EDELWEISS RECENTLY LISTED IPO FUND 1,22,868 407.00 0.76% 5,00,07,276
36 EDELWEISS TRUSTEE CO LTD AC – EDELWEISS MF AC EDELWEISS EQUITY SAVINGS FUND 61,416 407.00 0.38% 2,49,96,312
37 EDELWEISS TRUSTEE CO LTD AC – EDELWEISS MF AC EDELWEISS AGGRESSIVE HYBRID FUND 61,452 407.00 0.38% 2,50,10,964
38 BNP PARIBAS ARBITRAGE – ODI 1,22,968 407.00 0.76% 5,00,47,976
39 SAINT CAPITAL FUND 1,22,968 407.00 0.76% 5,00,47,976
40 ANANTA CAPITAL VENTURES FUND 1 1,22,996 407.00 0.76% 5,00,59,372
41 WINRO COMMERCIAL (INDIA) LIMITED 1,22,967 407.00 0.76% 5,00,47,569
42 SOCIETE GENERALE – ODI 2,45,736 407.00 1.52% 10,00,14,552
Total 1,61,67,991   100% 6,58,03,72,337

 

The IPO of such number of equity shares of face value of ₹ 2 each, comprising of a fresh issue aggregating up to ₹ 805 crore (the ‘Fresh Issue’) and an offer for sale aggregating up to 16,150,000 number of equity shares comprising of up to 2,000,000 equity shares by Chemikas Speciality LLP (The “Promoter Selling Shareholders”), up to 3,835,562 equity shares by  India Resurgence Fund Scheme I, up  to 6,478,876 equity shares by India Resurgence Fund Scheme II and up to 3,83,562 equity shares by  Piramal Natural Resources Private Limited (The “Investor Selling Shareholders”).

 

Company proposes to utilise the net proceeds from fresh issue estimated to ₹ 640 crore towards Redemption or earlier redemption, in part or full, of NCDs issued by the company and balance amount towards general corporate purposes. (The “Proceeds of Fresh issue”)

 

The Price Band of the Offer has been fixed at ₹ 386 to ₹ 407 per equity share of face value of ₹ 2 each. Bids can be made for a minimum of 36 Equity Shares and in multiples of 36 Equity Shares thereafter.

 

IIFL Securities Limited, ICICI Securities Limited and JM Financial Limited are the Book Running Lead Manager to the issue.