Supreet Chemicals Limited Files DRHP with SEBI for IPO, Plans to Raise ₹499 Crore
Supreet Chemicals Limited, the Gujarat-based speciality chemical company, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its Initial Public Offering (IPO). The company plans to raise ₹499 crore through the public issue, which will consist entirely of a fresh issue.
Supreet Chemicals Limited - IPO Details
According to the DRHP,
- Supreet Chemicals Limited IPO will be a bookbuilding IPO consisting entirely of a fresh issue of ₹499 crore, with no offer-for-sale (OFS).
- The equity shares are proposed to be listed on the National Stock Exchange (NSE) and BSE, as per the DRHP. The company will determine the price band and minimum bid lot for the IPO in consultation with the book-running lead manager.
- IIFL Capital Services Limited (formerly known as IIFL Securities Limited) will be the book-running lead manager of the public issue.
- MUFG Intime India Private Limited (Formerly Link Intime India Private Limited) will be the registrar for the Supreet Chemicals Limited IPO.
Utilisation of Proceeds
The Company proposes to utilise the net proceeds from the issue for the following purposes:
- Financing the capital expenditure requirements of the Company towards Manufacturing Facility 4 (the “Proposed Greenfield Project”).
- Repayment or prepayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the Company.
- General corporate purposes.
Check out newly Listed IPOs on BSE and NSE.
About Supreet Chemicals Limited
Supreet Chemicals Limited, founded in 1992 and based in Vapi, Gujarat, is a speciality chemical intermediates manufacturer supplying complex intermediates such as meta-chloroaniline (MCA), sulphonamides, and NAPSA to industries including pharmaceuticals, textiles, agrochemicals, dyes & pigments, and performance chemicals.
Financial performance for FY25 showed strong growth. The company's revenue jumped 51.2% to ₹362.5 crore from ₹239.8 crore in FY24, and profit after tax jumped 103% to ₹51.9 crore.
Explore other Upcoming IPOs on BSE and NSE.
Disclaimer: This news is solely for educational purposes. The securities/investments quoted here are not recommendatory.
To read the RA disclaimer, please click here.