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Planify Gets Startup VCI Chemicals on its Platform: The New Emerging Star in Speciality Chemical Tech | ||
Gurugram, Haryana, India Planify has recently opened its doors to bring onboard the rapidly emerging star in the Crude Coal tar Industry, VCI Chemical Industries.
Planify is the biggest platform that connects entrepreneurs with investors for hassle-free equity fundraising. Planify is actively working in Seed, Pre-Series A, and Series A Funding for the startups and helps raise between Rs. 1 Cr. to Rs. 50 Cr. for their ventures respectively.
Shubham Gupta CEO VCI Chemical Industries
Planify-backed Startups have a portfolio valuation of over Rs. 1600 Cr. across 6 companies.
VCI Chemicals is involved in the production of specialty chemicals products i.e. Coal Tar Pitch (commonly known as CTP) and high-grade Distillates. The company has a 1.1 Lakh MTPA Coal tar Distillery on 31.1-acre land in Kalinganagar, Orissa. CTP is a key ingredient used in the Aluminium smelter industry.
The company aims to substitute 20%-25% of the CTP requirement in the Middle Eastern market which currently relies 100% on Chinese imports.
Current Scenario of the Carbon Specialty Chemicals Industry
Demand - Supply Gap of Coal Tar Pitch in Middle East Countries:
This brings us to the question ’Why VCI?’ There would surely be other players in the industry who can meet demand, both domestic and international.
Traction
VCI Chemical Industries Management Management of the company is in secured and experienced hands of Vikrant Group. This is a 3rd generation business running under the brands of “Dr. Phenyl” (Disinfectant & HCP Business is being carried over 50+ years and the management is ethical & responsible.
Shubham Gupta, Director of VCI Chemical Industries graduated from Vellore Institute of Technology (VIT) as a B. Tech Chemical Engineer. He did an internship at Rashtriya ISPAT Nigam Limited, a coal chemical division & TEVA Pharmaceuticals API division. He joined Vikrant Group in 2010 & since then has undertaken 2 greenfield projects & 1 brownfield expansion project.
As is now evident, VCI management is in safe, experienced hands of people who have excellent knowledge about the industry. They have been part of this industry for many years previously.
VCI Director Shubham Gupta while commenting on the future plans of VCI said, “The company aims to meet the entire domestic requirement of high-grade distillates. Currently, India imports majority of its high-yield distillates from China (Rs. 8,300 Cr. FY22) due to the high production cost involved but VCI aims to make India Aatmanirbhar in this field. We plan to do this under the Government of India’s Make in India initiative. We also plan to meet 20-25% of market requirements of Coal Tar Pitch of the Middle Eastern market.”
Planify Founder & CEO, Rajesh Singla said, “Our mission is to fund every entrepreneur to help them gain early access to financial and strategic capital, to propel their company’s growth. Planify aims to groom what people care about. VCI provides investors with an opportunity to shape the future economy of a growing India. With VCI, Planify aims to support entrepreneurial pursuits of our economy.”
Planify has made a commitment to raise Rs. 23 Cr. through their angel investors and family offices.
VCI Chemicals will achieve a turnover of Rs. 350 Cr. by FY28 with a 12% EBIT margin, and VCI profits should be close to 45 cr. At a conservative estimate of P/E of 20, the company is expected to achieve Rs. 900 Cr. - Rs. 1,000 cr valuation in 5 years. The investor has the potential to make 12-15x returns in the next five years by investing in VCI.
200 lots of VCI are available for investment on Planify's platform for a limited period of time. Investors can gain the first mover advantage by investing in VCI with Planify.
For more information, please visit: www.planify.in. |
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