Company introduction

Chemcon is the manufacturer of specialised chemicals, such as HMDS and CMIC which are predominantly used in the pharmaceuticals industry (the “Pharmaceutical Chemicals”), and inorganic bromides, namely Calcium Bromide, Zinc Bromide and Sodium Bromide, which are predominantly used as completion fluids in the oilfields industry (the “Oilwell Completion Chemicals”).

Products that are manufactured by the company are:

Pharmaceutical Chemicals

1. HMDS and ancillary products (including hi-purity HMDS)


3. 4 CBC

Oilwell Completion Chemicals

1. Calcium Bromide (solution and powder)

2. Zinc Bromide (solution)

3. Sodium Bromide (solution and powder)

We were the only manufacturer of HMDS in India and were the third largest manufacturer of HMDS worldwide in terms of production in the calendar year 2019.

We were the largest manufacturer of CMIC in India and the second largest manufacturer of CMICworldwide, in terms of production and capacity in calendar year 2019.

Industry overview

HMDS is widely used in manufacturing of antibiotics such as penicillin, cephalosporins and other types of penicillin derivatives.

CMIC is mainly used in pharmaceutical industry as a key intermediate for anti-AIDS and anti-hepatitis B drug Tenofovir.

Pharmaceutical intermediates are the chemical compounds that form the building blocks used in production of active pharmaceutical ingredient (API). The global market of chemicals used as pharma intermediates was valued at about USD 27 Bn in 2019 and is expected to grow at a CAGR of 4% between 2020 and 2023.

The overall market of chemicals used as pharma intermediates is anticipated to grow at 7-9% CAGR over the 5 year forecast period.

Promoters of the company

Kamalkumar Rajendra Aggarwal, Navdeep Naresh Goyal and Shubharangana Goyal are our Promoters.


We are a leading manufacturer globally of the Pharmaceutical Chemicals and we are a leading manufacturer in India of the Oilwell Completion Chemicals

Diversified customer base coupled with long standing relationships

Our top five customers and our top ten customers contributed 59.35% and 72.26%, respectively of our total revenue from operations in Fiscal 2020

We have established relationships with our key customers. For instance, we conduct business with Aurobindo Pharma Limited on the basis of purchase orders and they have been our client for over 20 years. 68.61% of our total revenue from operations in Fiscal 2020 was contributed by customers who have been consistently purchasing our products over the last five years.


Kamalkumar Rajendra Aggarwal

Designation: Chairman and Managing Director

Rajesh Chimanlal Gandhi

Designation: Whole-time Director and Chief Financial


Objects of the Issue

Capital expenditure towards expansion of the Manufacturing Facility    41.03cr

To meet working capital requirements                                                     90.00cr

General corporate purposes*                                                                      [●]

Financial strength  

 2020 20192018

Know achievements

we were the only manufacturer of Zinc Bromide and the largest manufacturer of Calcium Bromide in India, in terms of production in calendar year 2019

We supply our products to domestic customers and also export our products to countries including United States of America , Italy, South Korea, Germany, People’s Republic of China, Japan, United Arab Emirates, Serbia, Russia,Spain, Thailand and Malaysia.

The key customers of our Pharmaceutical Chemicals include Hetero Labs Limited, Laurus Labs Limited, Aurobindo Pharma Limited, Sanjay Chemicals (India) Private Limited, Lantech Pharmaceuticals Limited, Ind –Swift Laboratories Limited, Vivin Drugs & Pharmaceuticals Limited and Macleods Pharmaceuticals Limited

IPO dateSep 21 – Sep 23 (2020)
Issue size318 Cr(9,352,940 Eq shares)
Listing price band338 -340 per equity share
Face value10 Rs
1 Lot size44 shares
Retail portion35%
Minimum quote14,960 Rs
Maximum quote1,94,480 Rs
Listing inBSE only
Offer opens onSept 21, 2020
Offer closes onSept 23, 2020
Credit of shares in demat accountSept 30,2020
Listing dateOct 1, 2020

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