Anupam Rasayan Inks $61 Million LoI with Prominent Japanese MNC Chemical Firm

Anupam Rasayan, a prominent player in India's custom synthesis and specialty chemicals sector (NSE, BSE: ANURAS), has successfully signed a Letter of Intent (LOI) with a leading Japanese Chemical company. The LOI, valued at $61 million (₹507 crores), encompasses a contractual commitment for the supply of a new-age polymer intermediate over the next nine years. The commencement of supply is scheduled for the calendar year 2024, and the manufacturing of this innovative product will take place in both existing and new multipurpose manufacturing facilities.

Anand Desai, the Managing Director of Anupam Rasayan, expressed enthusiasm about the agreement, stating, "We are pleased to announce that we have signed the LOI with a renowned Japanese multinational, who we are excited to add to our customer portfolio. We will be supplying this new-age polymer intermediate, which will serve as a crucial component in the production of thermoplastic polymers. These polymers find applications in structural materials within the aerospace industry, semiconductor processes, electrical and electronic devices, and high-performance industrial machinery."

Desai highlighted the company's strategic advantage, stating, "As we are fully backward integrated for this molecule, we can provide supply chain assurance to the customer without dependencies on supplies from other geographies."

The signing of the LOI signifies a significant milestone for Anupam Rasayan, further solidifying its position as a trusted provider of high-end polymer intermediates. Desai expressed excitement about the opportunities that this partnership brings, underscoring the company's commitment to innovation and excellence in the chemical industry.

EQUITYBULLS