Archean Chemical Industries IPO; Check GMP, Price band, and other key details

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New Delhi: IPO season is in spree. The market has been watching back to back IPOs despite global uncertainty for the past two weeks. Now Archean Chemial Industries is going to open its IPOs on November 9, 2022 for a fresh issue of Rs 1,462 crore.

According to the red herring prospectus, the company has fixed the price band in the range of Rs 386 to Rs 407 per share.  The three-day subscription period will close on Friday, November 11, 2022.

According to the experts, GMP for Archean Chemical IPO can be between Rs 60 to 72. 

Here’s everything you need to know

Archean Chemical shares are expected to list on leading stock exchanges BSE and NSE on Monday, November 21, 2022.

The company has kept the lot size of minimum 36 equity shares and multiplier by 36 thereafter. IIFL Securities, ICICI securities, and JM Financial are the lead manangers.

About Archean Chemical Industries Limited

The company is an India-based leading specialty chemical manufacturing with a wide presence in the global markets. It is the first of its kind integrated plant in India to produce Industrial salt, Bromine, and Sulfate of Potash. The company manufactures products from brine reserves in the Rann of Kutch, located on the coast of Gujarat.

In 2013, the company commenced Industrial salt operation and exports to Japan and South Korea. In 2014, the company commenced production of Bromine and exports to China.