Anupam Rasayan soars 6% on $265-million deal with Japanese firm

Anupam Rasayan India shares climbed nearly 6 percent in the early trade on June 14 after it signed a $ 265 million (Rs 2,186 crore) deal with a Japanese specialty chemicals company.

The five-year agreement is for the supply of new-age patented life science active ingredient. “The product will be in the validation phase for the next 18 months and upon the successful validation, the supply will commence from 2025,” the company told exchanges.

The product will be manufactured at Anupam Rasayan’s multipurpose manufacturing facilities. As of December 2022, the company has six facilities in Gujarat, with four of them in Surat. The combined installed capacity of these facilities amounts to approximately 27,200 tonnes.

At 9.44 am, Anupam Rasayan was trading 2.62 percent higher at Rs 1,113.90 on the National Stock Exchange. Trading volumes were also higher, with five lakh shares changing hands on the exchanges against the one-month daily traded average of two lakh.

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In May, the company renewed a long-term contract worth $53 million (Rs 436 crore) with a German multinational for the supply of patented life science speciality chemicals. The deal was signed for three years on an exclusive basis.

With a consistent supply at a lower cost owing to process optimisation led by strong research and development, the company has cemented its position as a preferred supplier to the MNCs, managing director Anand Desai said.

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