Chemplast Sanmar Limited

LISTED

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Issue Price

₹530 – ₹541

Listed On

24 Aug 2021

Listing Price

₹525 (-2.96%)

Current Price LIVE

₹525 (-2.96%)

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Lot Size Calculator

Application	Lots	Shares	Amount
Retail (Min)	1	27	₹14,607
Retail (Max)	13	351	₹1,89,891
S-HNI (Min)	14	378	₹2,04,498
S-HNI (Max)	68	1,836	₹9,93,276
B-HNI (Min)	69	1,863	₹10,07,883

Retail: ≤ ₹2L • S-HNI: ₹2L–₹10L • B-HNI: > ₹10L Cap Price: ₹541/sh

As per financials, company has shown zig-zag results, P/E is 22 and NAV is negative. Currently, speciality chemical sector has outperformed marked and its expected sector will grow at good rate in upcoming future. But, if company may repeat its performance is big question. Performance of BRLM is good. So, we are giving NEUTRAL rating to this IPO.

As on Date	QIB	NII	RII	Total
Shares Offered / Reserved	2,17,92,453	1,08,96,226	72,64,150	3,99,52,829
Day 1 10-08-21	1,836 (0)	3,70,710 (0.03)	60,75,945 (0.84)	64,48,491 (0.16)
Day 2 11-08-21	3,41,820 (0.02)	6,13,494 (0.06)	93,81,636 (1.29)	1,03,36,950 (0.26)
Day 3 12-08-21	5,87,68,362 (2.7)	1,12,40,073 (1.03)	1,66,29,705 (2.29)	8,66,38,140 (2.17)

Open Date	Aug 10, 2021
Close Date	Aug 12, 2021
Allotment Date	Aug 20, 2021
Listing Date	Aug 24, 2021
Face Value	₹ 5 Per Equity Share
Issue Price	₹ 530 to ₹ 541 Per Equity Share
Issue Size	Total Equity Shares of 7,11,64,509 with aggregating up to Rs 3,850/- Cr Fresh Issue of Up to 2,40,29,574 with aggregating up to Rs 1,300/- Cr Offer for sale Up to 4,71,34,935 with aggregating up to Rs 2,550/- Cr
Retail Min Lot	1 Lot (27 Shares - ₹ 14,607)
Promoter Shareholding	100% (Pre-Issue) 54.99% (Post-Issue)
Registrar	KFin Technologies Private Limited
Lead Manager	Axis Capital Limited, BOB Capital Markets Limited, Credit Suisse Securities (India) Private Limited, HDFC Bank Limited, IIFL Holdings Limited, IndusInd Bank Limited, Yes Securities (India) Limited, Aambit Private Limited

Started in 1989, Chemplast Sanmar Limited is a leading specialty chemicals manufacturer in India with focus on specialty paste PVC resin and custom manufacturing of starting materials and intermediates for pharmaceutical, agro-chemical and fine chemicals sectors. Company was delisted from the market in April 2012 at price Rs 4.51/- and now coming again with price of Rs 541/-. CSL is the largest manufacturer of specialty paste PVC resin in India, on the basis of installed production capacity as of December 31, 2020. In addition, it is also the third largest manufacturer of caustic soda and the largest manufacturer of hydrogen peroxide, each in South India, on the basis of installed production capacity as of December 31, 2020 and one of the oldest manufacturers in the chloromethanes market in India. Company has four manufacturing facilities, of which three are located in Tamil Nadu at Mettur ('Mettur Facility'), Berigai ('Berigai Facility') and Cuddalore ('Cuddalore Facility'), and one is located in Puducherry at Karaikal ('Karaikal Facility'). As per financial performance Chemplast has posted total income/net profits (loss) of Rs. 3,152.58 cr. / Rs. 257.26 cr. (FY18), Rs. 1,266.77 cr. / Rs. 1,210.22 cr. (FY19), Rs. 1,265.51 Cr. / Rs. 50.23 Cr. (FY20) and Rs. 3815.10 Cr. / Rs. 388.01 Cr. (FY21). So company has posted inconsistent results, and there is huge variation in sales. In FY21, company has posted high growth and if same will continue in future or not is big question. Company has posted an average EPS of Rs. 16.74 for last three fiscals and NAV is Rs (139.15)/- on 31.03.21. As per FY21 earnings on fully diluted equity post issue, IPO is priced at P/E of around 22. As per RHP, comparison between listed peers are shown in above table. On BRLM's front,eight BRLMs are associated with this IPO, and have handled around 81 IPO in last three fiscals. From last 10 IPOs, one opened below issue price and remaining opened above issue price on the day of listing. As of now, all are trading above issue price. ( As on 04.08.21) As per financials, company has shown zig-zag results, P/E is 22 and NAV is negative. Currently, speciality chemical sector has outperformed marked and its expected sector will grow at good rate in upcoming future. But, if company may repeat its performance is big question. Performance of BRLM is good. So, we are giving NEUTRAL rating to this IPO.

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Disclaimer

No financial information whatsoever published herein, should be construed as an offer to buy or sell securities, or as information to make investment decisions, or as an official confirmation of any transaction. All matter published herein is purely for educational and informational purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions.

💬 Community Discussion

50 Comments

I
IPO Guide 17 Sep 2021, 22:09

One should exit
N
Nirmal patel 14 Sep 2021, 12:49

any suggestions?? should I hold or sell?
J
Jayesh Gariya 28 Aug 2021, 15:33

@kavita.....ha mera bhi eisa hi hua tha mandete wala nahi cut hua or woh unblock ho gya
I
IPO Guru 28 Aug 2021, 05:43

@KR, thanks for information
S
srbh 27 Aug 2021, 15:05

ami organic ipo coming 1 sep.
K
kr 26 Aug 2021, 20:23

Vijaya Diagnostic Center Limited -IPO IPO Open : September 1, 2021 IPO Close : September 3, 2021 Price : 522 - 531 Lot : 28 Discount : 52 for EMP Issue Size : 1894.26 Cr Issue Split : QIB : 50%, HNI : 15% and Retail : 35% Indicative Issue timelines Basis of Allotment : September 8, 2021 Initiation of Refunds: September 9, 2021 Credit of Shares : September 13, 2021 IPO Listing Date : September 14, 2021.
B
Bhardip Vasani 25 Aug 2021, 23:04

no
K
kavita 25 Aug 2021, 18:37

mujhe allotment hua n paise upi mandate se na cut hokar directly bank se cut hua to Jo hold amount hai Kya mujhe wo vapas milega?
K
krunal Sopariwala 24 Aug 2021, 12:17

sell at price to price or wait for 6 month in
J
jay 24 Aug 2021, 11:53

sold
I
IPO Guru 24 Aug 2021, 11:39

@all, very silent listing, if anyone got allotment, should exit or want to hold it, it's high risk investment.
A
Ashish 24 Aug 2021, 09:49

In NSE
A
Ashish 24 Aug 2021, 09:49

listing 550
J
jigar 24 Aug 2021, 09:20

25 to 30 % down listing hoga
J
jigar 23 Aug 2021, 17:44

current GMP is now -60 to -70
K
kapil 23 Aug 2021, 16:24

aptus kitna discount h
J
j k 23 Aug 2021, 16:14

Current premium 5/-
S
Sarvesh 23 Aug 2021, 15:07

Premium is expected to increase further or not
I
IPO Guru 22 Aug 2021, 21:42

3 IPOs in queue, still date not finalized.
N
nirav 22 Aug 2021, 19:57

any one
N
nirav 22 Aug 2021, 19:57

new ipo date
J
jigar 22 Aug 2021, 19:53

current GMP is -45 heard from other sources
I
IPO Guru 21 Aug 2021, 16:23

@all, here speciality chemicals sector is doing well, so selling pressure will be less compare to other IPO.
J
jigar 21 Aug 2021, 13:14

discount open 20/25 %
S
shivan 20 Aug 2021, 22:25

listing Kab Hai
D
Darshit 20 Aug 2021, 18:50

no
N
nms 20 Aug 2021, 12:12

kisike demat me credit hua kya
N
nms 20 Aug 2021, 12:10

listing kab he
A
Aamir Dholiya 19 Aug 2021, 21:47

Bhai kya he premium
J
jigar 19 Aug 2021, 16:33

Ready for big discout Rs.40/50
Y
Yogesh Khatri 19 Aug 2021, 14:55

2/2
K
Kamlesh Banushali 18 Aug 2021, 22:57

1/1
H
Hitesh Kanzariya 18 Aug 2021, 22:34

0/1
J
Jay Prakash Mishra 18 Aug 2021, 22:08

2/2
A
Anu 18 Aug 2021, 22:07

2/3
J
Jay Prakash Mishra 18 Aug 2021, 22:03

allotment out
A
Aamir Dholiya 18 Aug 2021, 10:13

today latest GMP pls???
T
Tejas 16 Aug 2021, 17:38

GMP Last heard: CarTrade 160 +/- 5 Nuvoco 11 +/- 1 ChemPlast 35 +/- 1 Aptus 24.50 +/- 0.50
T
Tejas 15 Aug 2021, 20:42

GMP Last heard: Devyani 64+/- 0.50 Krsnna 215 + /- 2 Windlas 80 +/- 5 Exxaro 5 +/- 1 CarTrade 260+/- 2 Nuvoco 14 +/- 1 ChemPlast 34 +/- 1 Aptus 33 +/- 0.50
N
nms 14 Aug 2021, 15:28

time time ki baat he lekin is baar ye ghoda bhegega
I
IPO Guru 13 Aug 2021, 19:12

In market, promoters of the company are not trusted and that is biggest reason for such low subscription, otherwise similar kind of companies had seen very huge demand in recent past.
K
Kingofmarket 13 Aug 2021, 15:05

Chemplast GMP is now 27 Suddenly huge demand is visible in this IPO, but supply is very limited.
R
Ravi Dave 13 Aug 2021, 08:30

Thx @Tejas
T
Tejas 12 Aug 2021, 21:37

GMP Last heard: Devyani 59 +/- 1 Krsnna 310 + /- 5 Windlas 85 +/- 5 Exxaro 5 +/- 1 CarTrade 205 +/- 2 Nuvoco 6 +/- 1 ChemPlast 8 +/- 1 Aptus 32.50 +/- 1
L
lomesh shah 12 Aug 2021, 20:54

BUY MOKSH. ORNAMENT TARGET. 39
R
Ravi Dave 12 Aug 2021, 16:24

Chemplast Kesha rahega 1000/2000 profit dega 1 lot me?
S
sunil 12 Aug 2021, 11:41

bharna chahiye???
S
sushil kumar 11 Aug 2021, 22:06

k
B
bhagat 11 Aug 2021, 20:24

zee business Anil sangavi suggested to avoid this IPO
S
sushil kumar 11 Aug 2021, 19:50

chemplat apply kar de

Period	Total Income	Total Expenses	Profit After Tax (PAT)
FY21	3,815.10	3,401.60	388.01
FY20	1,265.51	1,128.15	50.23
FY19	1,266.77	1,037.95	118.46
FY18	3,152.58	2,754.62	257.26

Company	P/B Ratio	P/E Ratio	RoNW	Total Revenue (Cr)
Chemplast Sanmar Limited Current	(3.89)	22.04	NA	3,815.10
PI Industries Limited	8.52	62.68	13.59%	3,415.40
SRF Limited	7.14	48.57	20.66%	7,258.46
Finolex Industries	3.52	13.18	26.68%	3,015.89
Navin Fluorine International Limited	11.58	63.88	18.13%	1,094.88

Chemplast Sanmar Limited

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