Accent Microcell IPO Opens Today at ₹133-140; Company Aims for Expansion

IPO Opens

December 8, 2023

New Delhi, India

Accent Microcell IPO: Offering Details and Timeline

Launch and Price Band

The much-anticipated Accent Microcell IPO opens on December 8 and close on December 12, offering shares in the price range of ₹133 to ₹140. Investors can bid for a minimum of 1000 shares, with a lot size of 1000 shares. The IPO, valued at ₹78.40 crore, is a fresh issue of 5,600,000 equity shares, with no offer for sale (OFS) component.

Company Profile

Accent Microcell Limited specializes in manufacturing premium cellulose-based excipients catering to the food, cosmetic, nutraceutical, and pharmaceutical industries. With advanced manufacturing facilities in Dahej SEZ and Pirana Road, the company has earned recognition for producing superior cellulose-based excipients meeting global quality standards.

Financial Performance and Growth

Accent Microcell’s revenue increased from ₹165.71 crore in FY22 to ₹204.19 crore in FY23, with a Q1 FY24 revenue of ₹58.81 crore. The Profit After Tax (PAT) more than doubled from ₹5.89 crore in FY22 to ₹13.01 crore in FY23, reaching ₹7.06 crore in Q1 FY2023-24.

Utilization of IPO Proceeds

Out of the net proceeds, Accent Microcell plans to utilize ₹54.39 crores to build a new plant in Navagam Kheda, Gujarat, focusing on producing carboxymethylcellulose (CMC), sodium starch glycolate (SSG), and croscarmellose sodium (CCS). The plant is expected to be operational by April 2025.

Accent Microcell IPO Key Dates

  • IPO Opens: December 8, 2023
  • IPO Closes: December 12, 2023
  • Allotment to Anchor Investors: December 7, 2023

Leadership and Market Position

Promoted by Vinodbhai Manibhai Patel, Ghanshyam Arjanbhai Patel, Nitin Jasvantbhai Patel, and Vasant Vadilal Patel, Accent Microcell positions itself as a leader in cellulose-based excipients manufacturing.

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