Another company associated with the chemicals and gas segment is preparing to launch its own IPO. The company’s IPO will include new shares worth Rs 1,500 crore and an offer for sale of Rs 2,000 crore. The company’s existing promoters and shareholders will sell some of their holdings through an IPO. Chemplast is a major investment of foreign billionaire love vats in Sanmar. The company manufactures paste PVC, chloro chemicals, caustic soda, hydrogen peroxide and refrigerant gas. It is also present in the contract manufacturing segment. The company is part of Sanmar, a large business group in Chennai.
Net profit was around Rs 46 crore.
In the financial year 2020, the company’s total income was around Rs 1,265 crore and net profit was about Rs 46 crore. As of December last year, the company’s net debt was Rs 187.58 crore. The bulk of the funds received from the IPO will be used for redemption before non-convertible debentures (NCDs). Investment banks like ICICI Securities and Axis Capital are advising the company for an IPO.
These companies are also bringing their IPO
A few days ago, there were reports of two more companies getting IPOs including Arohan Financial Services, a non-banking financial institution, and Dodla Dairy, a leading dairy company in South India, to get IPOs from SEBI. The shares of both companies will be listed on both the NSE and the BSE. Significantly, for any company’s IPO, FPO and rights issue, the approval of SEBI is required.
Learn about Arohan Financial Services IPO
According to the money control news, Arohan Financial Services plans to raise Rs 1,750-1,800 crore from its IPO. Arohan Financial is a company promoted by Aavishkaar Group. According to the DRHP submitted to SEBI, 850 million rupees will be raised in the IPO of Arohan Financial through a fresh issue. Apart from this, the offer for sale (OFS) of 2,70,55,893 equity shares will also be brought.
Know about Dodla Dairy IPO?
The IPO of leading dairy company Dodla Dairy will include a fresh issue of shares up to Rs 50 crore and an offer for sale of 10,085,444 equity shares. In the IPO offer for sale, TPG will sell its holdings in Dodla Dairy Holdings Ltd, Dodla Sunil Reddy, Dodla Deepa Reddy and Dodla Family Trust. The money received from the IPO will be used to pay the company’s debt, meet capital spending requirements, and general corporate purpose. The manager of this IP is Axis Capital and ICICI Securities.