Anupam Rasayan signs LOI with Prominent Japanese Multinational worth ~$90 Mn

Anupam Rasayan (NSE, BSE: ANURAS), one of India's leading custom synthesis & speciality chemical players, has signed Letter of Intent worth revenue of ~$90 Mn (₹743 crores) over next 7 years with one of the leading Japanese company to supply two advance intermediates using fluorination chemistry. These molecules will be manufactured in our existing as well as soon to be commercialised fluorination plants.

Speaking about the LOI, Anand Desai, Managing Director of Anupam Rasayan, said "We are pleased to announce the signing of a Letter of Intent (LOI) with one of the largest Japanese players in Fluorochemicals. Anupam will be the first company in India to manufacture these key molecules within the country, with applications in both the pharmaceutical as well as engineering fluids, the signing of LOI also marks the addition of this new marquee customer.

Our Business Development Team has demonstrated exceptional proficiency in creating opportunities that aligns with our global expansion goals by cultivating strong ties with our Japanese counterparts. This landmark LOI not only expands and diversifies our customer base but also solidifies our position in the Japanese markets as one of the most reliable partners for supplying specialized molecules to global majors."

Shares of Anupam Rasayan India Limited was last trading in BSE at Rs. 883.75 as compared to the previous close of Rs. 880.05. The total number of shares traded during the day was 5036 in over 474 trades.

The stock hit an intraday high of Rs. 900.00 and intraday low of 875.00. The net turnover during the day was Rs. 4471466.00.

Source : Equity Bulls

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