Archean Chemical IPO opens today: All you need to know about share price, lot size and more

The Initial Public Offering (IPO) of Archean Chemical Industries Limited will hit the primary markets today, 9 November. The price band of the public offer has been fixed at Rs 386-407 per equity share. Up to 75 per cent of the offered size has been reserved for qualified institutional investors, 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors. Investors will be able to bid for a minimum of 36 shares and in multiples of 36 shares after that. This means that investors can make a minimum investment of Rs 14,652 per lot (considering the upper range of the price band) and a maximum investment of Rs 1,90,476 for 13 lots. The public issue will remain open for subscribers till 11 November.  Archean Chemical Industries intends to raise Rs 1,462.31 crore from its public offer, out of which Rs 657.31 crore is reserved through the offer for sale (OFS) route. Link Intime India Private Ltd has been appointed as the official registrar of the Archean Chemical Industries public issue. According to Axis Capital, Archean contains an integrated production facility for their industrial salt, bromine, and sulphate of potash operations, located in Gujarat’s Hajipir. The facility is situated on the northern edge of the Rann of Kutch brine fields and is in close proximity to the Jakhau Jetty and Mundra Port. Axis Capital went on to say that bromine is used as a key initial-level material, which has applications in agrochemicals, pharmaceuticals, water treatment, additives, oil & gas, flame retardant, and energy storage batteries. It further added that Archean commands a leadership position in Indian bromine merchant sales by volume in Fiscal 2021. According to Archean Chemical, the processes it uses for converting brine from the Arabian Sea into its core products lead to minimal environmental harm. The company strives to identify and eliminate sources of environmental damage to achieve its goal of being as green as possible. Read all the Latest News , Trending News , Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.