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Below is quote on Chemplast Sanmar IPO by Mr. Jyoti Roy - DVP- Equity Strategist, Angel Broking Ltd   

The Rs. 3,850 crore Chemplast Sanmar Ltd IPO received a tepid response and was subscribed -2.17x. It was subscribed 2.29x in the retail category while qualified institutional buyers (QIBs) and the non-institutional investors (NIIs) categories were 2.7 times and 1.03 times respectively. We expect a flat opening for the stock which is expected to get listed on the exchanges on the 24^th of August. We had given a NEUTRAL rating to the IPO given our concerns due to high debt on books and negative net worth despite having a positive outlook on the chemicals. We would recommend to avoid buying into the stock in case it falls below the issue price post listing given our concerns.

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