Anupam Rasayan surges on signing a letter of intent worth Rs 2,186 Cr

On Tuesday, Chemicals maker Anupam Rasayan said it has signed a Letter of Intent (LoI) worth USD 265 million (Rs 2,186 crore) with a Japanese specialty chemical company for the supply of new age patented life science active ingredient for the next five years. The company said in a regulatory filing that the product will be in the validation phase for the next 18 months, and upon the successful validation, the supply will commence from the 2025 calendar year. This product will be manufactured in existing multipurpose manufacturing facilities. 

Anupam Rasayan is currently trading at Rs 1,112.05, up by 26 points or 2.39% from its previous closing of Rs 1,086.05 on the BSE. The scrip opened at Rs 1,129.75 and has touched a high and low of Rs 1,150 and Rs 1,107.80, respectively. So far 778 shares were traded on the counter. Shares of the company saw a spurt in volume by more than 2.52 times on BSE. 

The BSE group ‘A’ stock of face value of Rs 10 has touched a 52-week high of Rs 1,249.75 and a 52-week low of Rs 547.10. The current market cap of the company is Rs 11,978.22 crore. The promoters holding in the company stood at 60.80%, while Institutions and Non-Institutions held 13.50% and 25.68%, respectively. 

Anupam Rasayan India is one of the leading companies engaged in the custom synthesis and manufacturing of specialty chemicals in India. Its key focus in its custom synthesis and manufacturing operations is developing in-house innovative processes for manufacturing products requiring complex chemistries and achieving cost optimization. 

The company has two distinct business verticals life science-related specialty chemicals comprising products related to agrochemicals, personal care, and pharmaceuticals, and other specialty chemicals, comprising specialty pigment and dyes, and polymer additives. The company is fully backward integrated for this molecule and can provide supply chain assurance to the customer without dependencies on supplies from other geographies.