Balaji Speciality Chemicals IPO GMP, Details to watch, Guidance & Subscription status @ Chanakyanipothi.com, the Oldest & the most Trusted Investment website in India. Operational since 8th December 1999, this is the Only Investment website in India, which has successfully completed 23 Years.

Balaji Speciality Chemicals IPO Promoters
BALAJI AMINES LIMITED, ANDE PRATHAP REDDY, ANDE SRINIVAS REDDY, RAM REDDY DUNDURAPU, RAJESHWAR REDDY NOMULA & GADDAM HEMANTH REDDY

Balaji Speciality Chemicals IPO Company Details to watch

Balaji Speciality Chemicals is the sole manufacturer in India of niche chemicals such as Ethylenediamine, Piperazine (Anhydrous), Diethylenetriamine, Amino Ethyl Ethanol Amines and Amino Ethyl Piperazine, using the Monoethanol Amine (“MEA”) process. The chemicals it manufactures are import substitutes and are used in various end-use industries such as speciality chemicals, agrochemicals, and pharmaceuticals. The company commenced commercial production in June 2019 from its manufacturing facility located at Solapur, Maharashtra and has since scaled its operations, grown the brand and customer base to become one of the fastest growing speciality chemicals companies in India.
Balaji Speciality Chemicals is a subsidiary of Balaji Amines Limited, one of the leading manufacturers of aliphatic amines in India. BAL specializes in manufacturing of methylamines, ethylamines, derivatives of
specialty chemicals and pharma excipients.
Industry Opportunity
The global market for its portfolio of Ethylenediamine, Piperazine, Diethylenetriamine, Amino Ethyl Ethanol Amines and Amino Ethyl Piperazine is expected to grow from 1,078 kilo tons (“KT”) in Fiscal 2022 to 1,570 KT by Fiscal 2028, growing at a CAGR of 6.5% (Source: CRISIL Report). The global market for these products is presently valued at US$ 2.2 billion and is expected to grow at 6.9% CAGR to US$ 3.3 to 3.4 billion by Fiscal 2028. In Fiscal 2022, India imported 31.8 KT of Ethylenediamine, 1.1 KT of Piperazine (Anhydrous), 4.4 KT of Diethylenetriamine, 0.2 KT of Amino Ethyl Ethanol Amines and 0.3 KT of Amino Ethyl Piperazine. Further, in the last three Fiscals, India cumulatively imported 125.4 KT of these products, i.e., 105.5 KT of Ethylenediamine, 6.3 KT of Piperazine (Anhydrous), 12.2 KT of Diethylenetriamine, 0.6 KT of Amino Ethyl Ethanol Amines and 0.7 KT of Amino Ethyl Piperazine.

The industry for these products is characterised by high entry barriers because of its capital-intensive nature, technical know-how required to produce products and a large distribution network which may not be possible for new entrants in the market.
Product Portfolio
As of March 31, 2022, the product portfolio comprised five niche chemicals catering to a diverse range of end user industries, including speciality chemicals, agrochemicals: and pharmaceuticals across multiple applications. It has focused on products based on certain criteria: (i) manufactured for the first time in India; (ii) import substitutes; (iii) continuous process technology, (iv) high export potential; (v) multiple high growth application areas such as speciality chemicals, pharma and agrochemicals; and (vi) commodity raw materials. The company consistently increased its production volume, from 4,428.39 MT in Fiscal 2020 to 16,851.72 MT in Fiscal 2022, enabling it to cater to the growing market opportunity.
For more information, click www.balajispecialitychemicals.com

Objects of the IPO
The Company proposes to utilize the Net Proceeds from the Fresh Issue towards
1. Repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by the Company
2. Funding working capital requirements of the Company

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