The trusted chemical company, Gujarat Polysol Chemicals Pvt. Ltd., has filed its draft red herring prospectus with the market regulator SEBI or Securities and Exchange Board of India. It plans to raise a fund of Rs. 414 crores through its initial public offering.
Let’s find out more details on this Gujarat Polysol Chemicals Pvt. Ltd. IPO news in the next section!
As per the draft papers, this initial public offering contains a fresh issue of equity shares totaling up to Rs. 87 crores. In addition, there is an offer-for-sale (OFS) amounting to Rs. 327 crores offered by the company’s promoters. The company has stated that there will not be any pre-IPO placement.
Gujarat Polysol Chemicals Pvt. Ltd. plans to utilise the proceeds from this public issue to repay its debt and allot some for general corporate purposes.
Gujarat Polysol Chemicals Pvt. Ltd. is a Gujarat-based company and a leading supplier of chemicals like dispersing agents in infra-tech, textile, leather, dye, and pigment industries. Also, it acts as the top manufacturer of polycarboxylate ethers (PCE) liquid & powder and a supplier of powder surfactants of India.
Furthermore, this Vapi-based company has a total manufacturing capacity of 1,30,400 mt per annum spread over three units.
In its DRHP, Gujarat Polysol Chemicals Pvt. Ltd. shared that the rival in consumption will be led by non-discretionary and discretionary spending. Here, non-discretionary spending means expenses incurred in essential items and groceries. As per expectations, these items did not get affected during the lockdown. So, the company is expecting a double-digit recovery in 2021 as a result of the better start it gained after 2020.
Interested individuals who are looking to invest in Gujarat Polysol Chemicals Pvt. Ltd. IPO must be aware of the upcoming dates for IPO launch as the company has filed DRHP with the capital market regulator. As per the expectations and facts mentioned in its draft papers, this company’s net profit is increasing. Thus, it can be a good option for investment. However, one must do comprehensive research on the company’s vision, mission, and statement before taking the final call.
Scroll through our blog sections for more updates on upcoming IPOs and stock market news!
1. Who is the leading manager of Gujarat Polysol Chemicals Pvt. Ltd. IPO?
The leading manager of the initial public offering offered by Gujarat Polysol Chemicals Pvt. Ltd. is INGA Ventures.
2. Where will the listing take place?
As per the proposal, this listing of Gujarat Polysol Chemicals Pvt. Ltd. will take place in BSE and NSE.
3. Who is the registrar to the chemical company issue?
Link Intime Private Ltd. is the registrar for the initial public offering made by Gujarat Polysol Chemicals Pvt. Ltd.
4. Which promoters are offering Gujarat Polysol Chemicals Pvt. Ltd. IPO?
The promoters offering Gujarat Polysol Chemicals Pvt. Ltd. IPO include Umang Shailesh Desai, ShaileshKumar Balvantrai Desai, and Polyol Financial Services LLP.
Disclaimer: This blog is exclusively for educational purposes and does not provide any advice/tips on investment or recommend buying and selling any stock.
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