IPO Details

Bidding Dates

07 Dec '23 - 11 Dec '23

Minimum Investment

₹140,000 / 1 Lots ( 1000 Shares )

Price Range

₹133 - ₹140

Maximum Investment

₹140,000 / 1 Lots ( 1000 Shares )

Retail Discount

Not Applicable

Issue Size

₹78.40 Cr

Investor category and sub category

Retail Individual Investors  |   Non-Institutional Investors  |   Qualified Institutional Buyers (QIB)  |  

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Dec 7, 2023

IPO Closing Date

Dec 11, 2023

Basis of Allotment

Dec 12, 2023

Initiation of Refunds

Dec 13, 2023

Credit of Shares to Demat

Dec 13, 2023

IPO Listing Date

Dec 14, 2023

Cut-off time for UPI mandate confirmation

Dec 11, 2023

IPO Subscription Details

DateQIBNIIRetailTotal

Day 1Dec 7, 2023

 7.12x 52.78x 62.17x 44.43x

Day 2Dec 10, 2023

 9.90x 161.02x 218.12x 146.39x

Day 3Dec 11, 2023

 118.48x 576.70x 409.95x 362.41x

IPO Subscription Live Status

Investor Category Subscription (Times)
Qualified Institutions buyers 118.48
Non-Institutional Buyers 576.70
Retail Investors 409.95
Total 362.41

About Accent Microcell Limited

Accent Microcell Limited, established on April 10, 2012, specialises in producing high-quality cellulose-based excipients. These products are primarily used in the Pharmaceutical, Nutraceutical, Food, and Cosmetic industries. The company is one of the global leaders in manufacturing Microcrystalline Cellulose (MCC).

Accent Microcell has earned recognition for producing cellulose-based excipients that adhere to international quality standards. The company operates two advanced manufacturing facilities in Pirana Road, Ahmedabad, and Dahej SEZ, Bharuch. These strategic facilities located near the ports enable a strong global sales model, with a presence in over 45 countries, including the USA, Canada, Germany, the UK, and many others.

The company's primary product is Microcrystalline Cellulose (MCC), an odourless, fine white powder derived from highly purified wood pulp. MCC is versatile and used as a texturiser, anticaking agent, binder, lubricant, bulking agent, and diluent in various industries. Accent Microcell manufactures 22 grades of MCC, with particle sizes ranging from 20 to 180 microns.

The company's major MCC grades are marketed under the brand “Accel”. Other product lines include “Acrocell”, “Maccel”, and “Vincel”. These products reflect Accent Microcell's commitment to quality and innovation in the field of cellulose-based excipients.

Industry Outlook

  1. India's pharmaceutical industry, poised for rapid growth, is expected to reach US$ 130 billion by 2030, driven by exports and biotech advancements.
  2. The Indian Union Budget 2022-23 allocates ₹3,201 crore for research and ₹83,000 crore to the Ministry of Health, signalling robust growth and investment in healthcare and research sectors.
  3. The PLI scheme in India's pharmaceutical sector aims to increase local drug production and reduce imports. The scheme was started in 2021 with a budget of ₹6,940 crore through 2030. It supports the installation of new plants in the pharma industry, making it cheaper to set up these facilities.

Accent Microcell Limited IPO Details

Accent Microcell Limited IPO Dates

The IPO of Accent Microcell Limited is open for subscription from December 8, 2023, to December 12, 2023.

Accent Microcell Limited IPO's Price Band

Accent Microcell Limited’s IPO is a fresh issue IPO of up to ₹78.40 crore. It is a book-building issue. The price range is set to ₹133 to ₹140 per share.

Accent Microcell Limited IPO's Lot Size

The lot size for Accent Microcell Limited’s IPO is 1,000 shares with a minimum investment of ₹1,40,000.

Accent Microcell Limited IPO's Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. Setting up of Manufacturing Facility: Accent Microcell Limited Plans are in place to establish a manufacturing facility in Navagam Kheda for the production of Croscarmellose Sodium (CCS), Sodium Starch Glycolate, and Carboxymethylcellulose (CMC). The company will deploy ₹5,439.38 lakh from net proceeds received from the IPO.
  2. General Corporate Purposes: Accent Microcell Limited's management aims to flexibly allocate the rest of the gross proceeds for diverse corporate purposes. This includes strategic initiatives, partnerships, acquisitions, branding, marketing, and facility enhancements, subject to compliance with the Companies Act.

Peer Group

  1. Sigachi Industries Limited

How To Check the Allotment Status of Accent Microcell Limited’s IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the IPO Section and then to IPO Orders
  • Select the individual IPO that you had applied for and check the allotment status.
  • As such, Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of Accent Microcell Limited

Registered office: 314, Shangrilla Arcade, Shyamal Cross Roads, Anandnagar Road, Satellite, Ahmedabad, Gujarat, 380015.

Contact Person: Ms. Braham Pal Chhabra (Company Secretary and Compliance Officer)

Phone: +91 - 7575803351

E-mail: cs@accentmicrocell.com

Company Financials

Particulars Year ending on March 31, 2023 Year ending on March 31, 2022 Year ending on March 31, 2021
Total Income 20,696.75 16,753.97 13,481.59
Sales Growth (%) 23.53% 24.27% NA
EBITDA Margin (%) 10.85% 8.93% 9.76%
Profit After Tax (PAT) 1,301.02 589.31 480.29
PAT Margin (%) 6.37% 3.56% 3.62%
Total Borrowings 2,278.23 2,409.53 3,063.76
Cash & Cash Equivalents 28.47 110.03 19.60
Debt to Equity Ratio (x) 0.52 0.75 1.15
Return on Equity (%) 34.11% 20.07% 18.57%
Return on Capital Employed (RoCE) (%) 26.46% 18.55% 16.04%
Earning Per Share (EPS) in absolute ₹ 10.06 4.57 3.72

Know before investing

Strengths

3

  1. The company enjoys a global presence, promoting its high-quality products in over 45 countries, including the USA and Canada, through marketing and customer engagement.

  2. Accent Microcell Limited benefits from government export incentives like MEIS and RoDTEP, offering duty credit scrips for offsetting export taxes since 2021.

  3. The company plans to meet the growing market demand for CCS, SSG, and CMC by establishing a new facility in Navagam Kheda, increasing its total capacity to 10,400 metric tonnes annually.

Risks

4

  1. Accent Microcell Limited is involved in a legal case concerning wastewater management in Dahej, which has potential business impacts. The decision on environmental compliance and related compensations is still pending by the National Green Tribunal.

  2. Potential conflicts of interest exist between the company and its group entities, as it operates in similar pharmaceutical sectors, possibly affecting business opportunities and profits.

  3. The company depends on a few suppliers for raw materials without long-term contracts, making them vulnerable to price and supply volatility.

  4. Around 92% of Accent’s revenue comes from specific products, and reduced demand for these could negatively impact their business and finances.

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Accent Microcell Limited IPO FAQs

What is Accent Microcell Limited's IPO?

Accent Microcell Limited IPO is a fresh issue of up to ₹78.40 Crore. It is a book-building issue.

When will Accent Microcell Limited's IPO be allotted?

The Accent Microcell Limited’s shares will be allotted on December 13, 2023.

When will Accent Microcell Limited's IPO open for subscription?

The IPO subscription window for Accent Microcell Limited will open on December 8, 2023.

What minimum lot size can retail investors subscribe to?

Retail investors can apply for at least one lot, which is a size of 1,000 shares, with a sum of ₹1,40,000.

When will Accent Microcell Limited list on exchanges?

Accent Microcell Limited will be listed on NSE Emerge . The stock will be listed on December 15, 2023.

How do I check the allotment status of Accent Microcell Limited?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the IPO Section and then to IPO Orders
  • Select the individual IPO that you had applied for and check the allotment status.
  • As such, Angel One will notify you of your IPO allotment status via push notification and email.

What would be the listing gains on Accent Microcell Limited IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

I have finished the application process for Accent Microcell Limited, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.

How do I approve the UPI mandate request for Accent Microcell Limited's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Accent Microcell Limited using one PAN?

You can submit only one application using your PAN card.