Telugu super news,Hyderabad, December 4, 2023: Accent Microcell Limited, a leading manufacturer and exporter of cellulose-based pharmaceutical excipients, announced, today announced that its Initial Public Offer will open on Friday, December 8, 2023. The Anchor portion will be open on Thursday, December 7, 2023, and the issue will conclude on Tuesday, December 12, 2023. The company is planning to raise approximately Rs. 78.40 crores from the issue and aims to be listed with NSE Emerge. The price band for the issue has been fixed at Rs. 133 – Rs. 140 per share. The lot price will be 1,000 shares. Corporate Capital Ventures Private Limited is the Book Running Lead Manager and KFIN Technologies Limited is the Registrar to the Issue.
The IPO will comprise of fresh issue of 56 lakh Equity Shares with a face value of Rs 10/- through the book-building route. While 15.96 lakh equity shares have been reserved for Anchor portion, 2.8 lakh equity shares for Market Maker, 10.64 lakh equity shares for QIB portion, 7.98 lakh equity shares allocated for NIIs and Retail (RII) portion accounts for 18.62 lakh equity shares.
Accent Microcell plans to utilise Rs. 54.39 crores out of net proceeds from the offering to establish a new plant at Navagam Kheda, Gujarat, India for manufacturing Croscarmellose Sodium (CCS), Sodium Starch Glycolate (SSG) and Carboxymethylcellulose (CMC), which is expected to be commercialised by April 2025.
The company predominantly manufactures Microcrystalline Cellulose (“MCC”), which is widely used as a texturizer, anticaking agent, binder, lubricant, bulking agent, and diluent with an extensive range of applications in pharmaceutical, nutraceutical, food, cosmetic and other industries. In addition to MCC, it produces other excipients such as Croscarmellose Sodium (CCS) and Magnesium Stearate (MS).
Leveraging its high-quality product line, the company has established a long-standing market in India and abroad. Accent Microcell exports its products to more than 45 countries, including the USA, Canada, Germany and many others.
Incorporated in 2012, Accent Microcell has successfully developed a resilient manufacturing infrastructure, supported by an efficient supply chain that caters to the needs of various Indian and global customers. With two state-of-the-art manufacturing facilities located in Pirana (Unit-I), and Dahej SEZ (Unit-II), the company serves various categories of clients from different industries. With the addition of 2,400 metric tonnes to its current annual total installed capacity of 8,000 metric tonnes, the company plans to increase its cumulative annual capacity to 10,400 metric tonnes including all range of excipients category (including premium excipients products). The expansion of capacity will enable the company to deliver products that are specifically tailored to customer needs. In addition to existing customer base, the company will cater to the clients in untapped regions.
Accent Microcell registered a revenue of Rs. 204.19 Cr. in FY23, up from INR 165.71 crore in FY22. In the first quarter of FY24, ending June 30, the company clocked a revenue of Rs. 58.81 crore. Accent Microcell’s profit (PAT) more than doubled to Rs. 13.01 crore in FY23 from Rs. 5.89 crore in FY22. The company achieved Profit After Tax (PAT) of Rs. 7.06 crore in Q1 of FY2023-24.
For more information, please visit: www.accentmicrocell.com