Archean Chemical Industries Limited has come up with an initial public offer (IPO). It will open on November 09-11, 2022 at Rs.386-407 a share. The IPO issue size is around Rs.1,462.31 crore. The minimum bid will be for 36 shares and in its multiples thereafter.
Archean Chemical Industries Limited is a leading specialty marine chemical manufacturer in India. It focused on producing and exporting bromine, industrial salt, and sulphate of potash to customers around the world. The company is the largest exporter of bromine and industrial salt by volume in India in Fiscal 2021 and has amongst the lowest cost of production globally in both bromine and industrial salt. It has marketed products to 18 global customers in 13 countries and to 24 domestic customers.
The company’s marine chemicals business is predominantly conducted on a business-to-business basis both in India and internationally. It exports products to China, Japan, South Korea, Qatar, Belgium and the Netherlands. Company has an integrated production facility for bromine, industrial salt, and sulphate of potash operations, located at Hajipir, Gujarat.