MUMBAI: The Lamdapura, Gujarat-based pharma firm Allchem Lifescience which is into active pharmaceutical ingredients (API) intermediates and speciality chemicals, has filed for a Rs 905-croe share sale plan with the Sebi.
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The company said Friday that the proposed IPO comprises a fresh issue of shares of face value of Rs 10 each aggregating up to Rs 190 crore and an offer-for-sale of up to 7,155,000 equity shares of face value of ₹ 10 each, adding up to Rs 715 crore, taking the overall issue size to Rs 905 crore.
The OFS comprises sale of up to 3,577,500 shares each by promoters Kantilal Ramanlal Patel and Manisha Bipin Patel. The statement however did not say how much these promoter-shareholders will be diluting or how much they own now.
Allchem proposes to use R 130 crore from the proceeds from the fresh issue towards partial repayment of debt as well as towards general corporate purposes.
Incorporated in 2017, Allchem specialises in the production of key starting materials, generic API intermediates and specialty chemicals and is a key player in manufacturing piperazine derivatives which are critical raw materials for producing APIs.
Allchem currently manufactures 263 products demonstrating its focus on different chemistries in organic chemical compounds, enabling it to address a wide range of industrial applications including pharmaceutical, agro-chemicals, veterinary, plastics and electrochemical.
Allchem’s customers include Alembic Pharmaceuticals, Bond Chemical, Chemosyntha BV, Cohance Life Sciences, Egene Company, Hattori Corporation, Huaian Jiamu Biotechnology, Indoco Remedies, Megafine Pharma, Micro Labs, Moehs Iberica, MSN Laboratories, Nagase, Neogen Chemicals, Neuland Laboratories, Olon Active Pharmaceutical Ingredients, Unichem Laboratories, Vasudha Pharma Chem and Vivatis Pharma GmbH.
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As of December 2024, it serves customers across 13 states apart from 22 countries and had 148 domestic customers and 66 in overseas.
It has manufacturing facility at Manjusar near Vadodara with an installed capacity of 1,133.50 kilo litres.
Revenue from operations during the six months ending September 2024, and in FY24 and FY23 was Rs 78 crore, Rs 137.4 crore, and Rs 105.7 crore respectively from which it earned net profit of Rs 10.8 crore, Rs 23.4 crore and Rs 17.9 crore, respectively.
