Balaji Speciality Chemicals Limited, a subsidiary of Balaji Amines Limited (BAL), manufactures methylamines, ethylamine, derivatives of specialty chemicals, and pharma excipients.
The company manufactures niche chemicals such as Ethylenediamine, Piperazine (Anhydrous), Diethylenetriamine, Amino Ethyl Ethanol Amines, and Amino Ethyl Piperazine, using the Monoethanol Amine (“MEA”) process. These chemicals are import substitutes and are used in various end-use industries such as specialty chemicals, agrochemicals, and pharmaceuticals.
Balaji Speciality Chemicals’ manufacturing unit is located in Solapur, Maharashtra. The manufacturing facility is spread across 41,920 square meters and had an aggregate annual installed capacity of 30,000 MT per annum as of March 31, 2022.
In Fiscal 2022, the company sold its products to 182 customers which include manufacturers of specialty chemicals, agrochemicals, and pharmaceuticals as well as distributors. The company’s client list includes Nanjing Union Chemical Company Limited, Korea India Limited, UPL Limited, Dr. Reddy’s Laboratories Limited, and Aarti Drugs Limited.
The company has established strong relationships with a range of customers, and their customer base has grown from 45 customers in Fiscal 2020 to 182 customers in Fiscal 2022.
Balaji Speciality Chemicals IPO – Details
| IPO Opening Date | August 2023 |
| IPO Closing Date | August 2023 |
| Issue Type | Book Built Issue IPO |
| Issue Size | [] Shares Worth ₹[] Crore Fresh Issue: [] Shares Worth ₹250.00 Crore Offer For Sale: 2,60,00,000 Shares Worth ₹[] Crore |
| Face Value | ₹2 per equity share |
| IPO Price | ₹[] – ₹[] |
| Market Lot | – |
| Min Order | – |
| Listing At | BSE, NSE |
| Register | Link Intime India Private Ltd |
| QIB Shares Offered | 75% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 10% |
Balaji Speciality Chemicals IPO – Date Schedule
| IPO Open Date | August 2023 |
| IPO Close Date | August 2023 |
| Basis of Allotment Date | August 2023 |
| Initiation of Refunds | August 2023 |
| Credit of Shares to Demat Account | August 2023 |
| IPO Listing Date | August 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on August , 2023 |
Balaji Speciality Chemicals IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | – | – | – |
| Retail (Max) | – | – | – |
| S-HNI (Min) | – | – | – |
| S-HNI (Max) | – | – | – |
| B-HNI (Min) | – | – | – |
Competitive Strengths
- Sole manufacturer of niche chemicals in India, including Ethylenediamine, Piperazine (Anhydrous), Diethylenetriamine, Amino Ethyl Ethanol Amines and Amino Ethyl Piperazine with significant export potential.
- Well positioned to capture industry tailwinds.
- Rapidly developed a diversified global and Indian customer base.
- Ability to leverage research and development capabilities and strategic guidance from the Corporate Promoter.
- Manufacturing Facility with stringent quality norms and procedures.
- Improving, profitability and enhancement of market share.
- Professional management team with extensive domain knowledge and supported by a committed employee base.
Company Promoters
- Balaji Amines Limited
- Ande Prathap Reddy
- Ande Srinivas Reddy
- Ram Reddy Dundurapu
- Rajeshwar Reddy Nomula
- Gaddam Hemanth Reddy
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2020 | 54.11 | 76.45 | -15.87 | 203.55 |
| 31 March 2021 | 175.87 | 160.63 | 10.39 | 204.41 |
| 31 March 2022 | 516.04 | 361.98 | 108.94 | 166.63 |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E | – |
| Market Cap (₹ Cr.) | – |
| ROE | – |
| ROCE | – |
| Debt/Equity | – |
| EPS (Rs) | – |
| RoNW | – |
Object Of The Issue
- Repayment/ pre-payment, in full or in part, of certain outstanding borrowings availed by the Company.
- Funding working capital requirements of the Company.
- General corporate purposes.
Balaji Speciality Chemicals IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 1 | Clean Science and Technology Limited | 47.8 |
| 2 | 2 | Alkyl Amines Chemicals Limited | 53.4 |
| 3 | 10 | Tatva Chintan Pharma Chem Limited | 76.2 |
| 4 | 10 | Neogen Chemicals Limited | 77.9 |
Balaji Speciality Chemicals IPO Promoter Holding
| Pre Issue Share Holding | 97.98% |
| Post Issue Share Holding | – |
Balaji Speciality Chemicals IPO Prospectus
- Balaji Speciality Chemicals IPO DRHP
- Balaji Speciality Chemicals IPO RHP
Company Contact Information
| Balaji Speciality Chemicals Limited 2 nd Floor, Balaji Towers No. 9/1A/1, Hotgi Road, Aasara Chowk, Solapur – 413224 Phone: +91 217 2606 006 Email: investors@balajispeciali Website: http://www.balajispecialitychemicals.com/ |
Balaji Speciality Chemicals IPO Registrar
| Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: balajispeciality.ipo@linkintime.co.in Website: https://linkintime.co.in/mipo/ipoallotment.html |
Balaji Speciality Chemicals IPO Lead Manager(s)
| 1. JM Financial Limited 2. Hdfc Bank Limited |
Balaji Speciality Chemicals IPO FAQs
| What is Balaji Speciality Chemicals IPO? Balaji Speciality Chemicals IPO is a main-board IPO. The issue is priced at ₹[] to ₹[] per equity share. The IPO is to be listed on BSE & NSE. |
| When Balaji Speciality Chemicals IPO will open? The IPO is to open on August 2023 for QIB, NII, and Retail Investors. |
| What is Balaji Speciality Chemicals IPO Investors Portion? The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%. |
| How to Apply the Balaji Speciality Chemicals IPO? You can apply Balaji Speciality Chemicals IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Balaji Speciality Chemicals IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Balaji Speciality Chemicals”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Balaji Speciality Chemicals IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Balaji Speciality Chemicals”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Balaji Speciality Chemicals IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Balaji Speciality Chemicals”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Balaji Speciality Chemicals IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Balaji Speciality Chemicals”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Balaji Speciality Chemicals IPO Size? Balaji Speciality Chemicals IPO size is ₹[] Cr. |
| What is Balaji Speciality Chemicals IPO Price Band? Balaji Speciality Chemicals IPO Price Band is ₹[] to ₹[]. |
| What is Balaji Speciality Chemicals IPO Minimum and Maximum Lot Size? The minimum bid is [] Shares with ₹[] amount while the maximum bid is [] shares with ₹[]. |
| What is the Balaji Speciality Chemicals IPO Allotment Date? Balaji Speciality Chemicals IPO allotment date is August 2023. |
| What is the Balaji Speciality Chemicals IPO Listing Date? Balaji Speciality Chemicals IPO listing date is August 2023. The IPO is to list on BSE and NSE. |
