Omkar Speciality Chemicals IPO : CARE gives 3 out of 5

by khalid on 19/01/2011 · 0 comments

Omkar Speciality Chemicals IPO has got 3 out of 5 by CARE (rating agency) and this rating/grading is ‘Average’ for a speciality chemicals manufacturing company. The grade 3 indicates that the fundamentals of the IPO are ‘Average’ compared to the other listed securities in India. Omkar Speciality Chemicals Ltd is mainly engaged in the manufacture and sale of speciality chemicals viz. selenium, compounds, iodine compounds, molybdenum compounds etc. and pharma intermediates viz. Potassium Iodate, Bismuth Ammonium Citrate, Bromoform etc.

The IPO proceeds will be used by Omkar Speciality Chemicals Limited to setting up of new manufacturing facility at Unit 4 at Badlapur, Maharashtra, expansion of existing manufacturing facilities at Unit 1, Unit 2 & Unit 3 at Badlapur, Maharashtra, meeting Working Capital requirements, general corporate purposes and issue expenses.

The Equity Shares are proposed to be listed on the Bombay Stock Exchange Limited (BSE) and the National Stock Exchange of India Limited (NSE).

The Sole Book Running Lead Manager (BRLM) to the offer is Almondz Global Securities Limited.

Registrar of the Issue : Bigshare Services Pvt. Ltd. Mumbai.

Stay tuned to BelltheBull Blog for more news on Omkar Speciality Chemicals IPO !

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