Hindcon Chemicals Limited is incorporated in 1998. This company is engaged in manufacturing of chemicals particularly for the construction industry. Hindcon is coming up with their initial public offering to start their journey in the primary markets starting from Monday. Let us check the draft red herring prospectus and consider the issue price and issue date to post the Hindcon Chemicals Limited IPO Review.
About Hindcon Chemicals Limited IPO :
- IPO Opens on – February 26, 2018.
- IPO Closes on – February 28, 2018.
- Face Value – Rs. 10 Per Equity Share.
- Issue Price – Rs. 28 Per Equity Share.
- Issue Type – Fixed Price Issue IPO.
- Retail Allocation – 50%
- Market Lot – 4000 Shares.
- Minimum Order Quantity – 4000 Shares.
- Issue Size – 2,760,000 Equity Shares of Rs 10 aggregating up to Rs 7.73 Cr.
- Listing Exchange – NSE SME Exchange.
- Draft Prospectus – Click Here.
Objectives of the issue:
- To Meet Working Capital Requirement.
- To meet General Corporate Expenses.
- To meet Issue Expenses.
About The Company –
- Hindcon Chemicals Limited is offer Waterproofing additives, Plasticisers and Super Plasticisers, Tile Adhesives, Sealant Products, Floor Topping products, Epoxy Grout & Mortar and Cleaning Compound chemicals etc.
- The products of this company under brand names are Hind Anti Rust, Hind Block Fix, Hind Crete Plus – WPM, Hind Fix TA, Hind Hydraproof Ceramic, Hind Plasto Guard and Hind Sealant.
- This company also provide waterproofing and rehabilitation jobs on works contract basis.
- Hindcon Chemicals Limited is a member of “Indian Green Building Council”.
- This company has their manufacturing facility located at Howrah, West Bengal. The unit has an existing installed capacity of 30 thousand MT every year.
- The customers are include of this company likes Larsen & Toubro Ltd., Gammon India Ltd., BGR Energy Systems Ltd., Hindustan Construction Company Ltd., Jaiprakash Associates Ltd., Patel Engineering Ltd, SEW Infrastructure Ltd.
Promoters and Directors of the company :
- Mr. Sanjay Goenka, is the Managing Director and Promoter of this company.
- Mrs. Nilima Goenka, is the Executive Director and Promoter of this company.
- Mr. Ramsanatan Banerjee, is the Whole Time Director of this company.
- Mr. Kashi Nath Dey is the Chief Financial Officer of this company.
- Ms. Surbhi Saraf, is Company Secretary and Compliance officer of this company.
Hindcon Chemicals Limited IPO Review: The company has a solid financial data that may encourage the investors They have spirally increased their profitability and built a steady earnings graph. The issue is fully priced at the issue price of Rs. 28 per equity share. The current earnings per share is 5.46 and that is on the lower side than the peers. Hence, our Hindcon Chemicals Limited IPO Review has a POSITIVE view on this issue. Cash rich investors can subscribe in the Hindcon IPO for medium to longer term.