Citichem India Ltd IPO

Citichem India Limited was incorporated as `Citichem Alkalies (Bombay) Private Limited' pursuant to a Certificate of Incorporation dated March 18, 1992, issued by the Registrar of Companies, Maharashtra, as a private company under the provisions of the Companies Act, 1956. Further, the Company was converted into public limited company and consequently name of the Company was changed from `Citichem Alkalies (Bombay) Private Limited' to `Citichem Alkalies (Bombay) Limited' vide special resolution passed by the shareholders of the Company at an extra-ordinary general meeting held on March 01, 1999, and a fresh certificate of incorporation dated March 12, 1999 was issued by Registrar of Companies, Maharashtra. Thereafter, pursuant to fresh certificate of incorporation dated April 17, 1999, the name of the company has been changed from `Citichem Alkalies (Bombay) Limited' to `Citichem India Ltd'. The Corporate Identification Number of the Company is U24100MH1992PLC065975.

Covering more than 80,000 commercial products, India's chemical industry is extremely diversified and can be broadly classified into bulk chemicals, specialty chemicals, agrochemicals, petrochemicals, polymers and fertilisers. Globally, India is the fourth-largest producer of agrochemicals after the United States, Japan and China. India accounts for ~16% of the world production of dyestuffs and dye intermediates. Indian colorants industry has emerged as a key player with a global market share of ~15%. The country's chemicals industry is de-licensed, except for few hazardous chemicals. India holds a strong position in exports and imports of chemicals at a global level and ranks 9th in exports and 6th in imports at global level (excluding pharmaceuticals).

Citichem India Limited is mainly engaged in the buying, procuring, and supplying, of organic and inorganic chemicals, bulk drugs, and, food chemicals to pharmaceutical industry. The traded speciality chemicals and intermediates have a wide application in aluminium, steel, textiles, paper, dairy, paints, dyes & intermediates, soap making, pharma, food and adhesive Industry. The Company also supplies food preventives and chemicals under its own brand name which is thereafter converted into sales in its own books by the distribution team who ensures safe delivery of bulk supply. The said works are primarily sourced through its leased Registered Office located at 7, Floor 1, Plot No 96, Dhram Jyoti, Kazi Sayed Street, Khand Bazar, Masjid Station, Mandvi, Mumbai - 400003, Maharashtra, India.