Archean Chemical Industries IPO: Check IPO Details, Date, Price | Espresso


Archean Chemical Industries Limited to Open on Nov 09. Check IPO Details, Issue Date, Price

November 07, 2022
Archean Chemical Industries Limited to Open on Nov 09. Check IPO Details, Issue Date, Price

Archean Chemical Industries Limited is coming out with a fresh public issue to raise Rs. 1462 crores from the market.

Below are the details of the Archean Chemical Industries Limited IPO:

  • Issue opens – Nov 09 (Wednesday)
  • Issue closes – Nov 11 (Friday)
  • Issue size – Rs. 1462 crores
  • Price band – Rs. 386 to 407 per equity share
  • Bid lot – 36 shares and in multiples thereof

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And here are some details of the company and further details on the Archean Chemical Industries Limited

Company details:

Archean Chemical Industries Limited are a leading specialty marine chemical manufacturer in India and focused on producing and exporting bromine, industrial salt, and sulphate of potash to customers around the world. (Source: Company Commissioned F&S Report). According to Frost & Sullivan, They are the largest exporter of bromine and industrial salt by volume in India in Fiscal 2021 and have amongst the lowest cost of production globally in both bromine and industrial salt. (Source: Company Commissioned F&S Report). They produce their products from their brine reserves in the Rann of Kutch, located on the coast of Gujarat, and they manufacture their products at their facility near Hajipir in Gujarat.

·    As of June 30, 2022, they marketed their products to 18 global customers in 13 countries and to 24 domestic customers. Their bromine is used as key initial level materials, which have applications in the pharmaceuticals, agrochemicals, water treatment, flame retardant, additives, oil & gas and energy storage batteries. Industrial salt is an important raw material used in chemical industry for production of sodium carbonate (soda ash), caustic soda, hydrochloric acid, chlorine, bleaching powders, chlorates, sodium sulphate (salt cake) and sodium metal. Sulphate of potash is used as a fertilizer and also has medical uses.

·    Bromine is recovered from soluble salts found in seawater, salt lakes, inland seas and brine wells. Bromine is produced from brine after separation of most of the sodium chloride and potash. According to Frost & Sullivan, They command a leadership position in Indian bromine merchant sales (traded bromine in the market) by volume in Fiscal 2021, and they are the largest exporter of Bromine from India by volume in Fiscal 2021. (Source: Company Commissioned F&S Report).

·    Industrial salt has a high demand due to the diversity of applications in the oil & gas industry, chlor-alkali industry, and de-icing chemical industry. According to Frost & Sullivan, they were the largest exporter of industrial salt in India with exports of 2.7 million MT in Fiscal 2021 (Source: Company Commissioned F&S Report).

·    Sulphate of potash, also known as potassium sulphate, is a high-end, specialty fertilizer for chlorine-sensitive crops and also has medical uses to reduce the plasma concentration of potassium when hypokalemia occurs. They are the only manufacturer of sulphate of potash from natural sea brine in India. 

Issue break-up:

  • QIB – 75% of the offer – Rs. 1096.73 crores
  • NIB – 15% of the offer – Rs. 219.35 crores
  • RET – 10% of the offer – Rs. 146.23 crores




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