Supreet Chemicals files IPO draft papers with SEBI to raise Rs.499 crores
Supreet Chemicals files IPO draft papers with SEBI to raise Rs.499 crores
The amount will be used to finance its greenfield project and pay debt
Specialty chemicals company, Supreet Chemicals Ltd, has filed preliminary papers with the Securities and Exchange Board of India (SEBI) for raising Rs.499 crore through an initial public offering (IPO).
The IPO will be a fresh issue of equity shares with no offer-for-sale component, as per the draft red herring prospectus (DRHP).
The Gujarat-headquartered company plans to use Rs.310 crore for financing its greenfield project, Rs.65 crore for paying debt and the remaining funds for meeting general corporate expenses.
As of March 2025, its outstanding borrowings were over Rs.200 crores. The company may also consider raising up to Rs.99 crore through a pre-IPO placement. If undertaken, the fresh issue size will be reduced.
Supreet Chemicals is a specialty chemical intermediates manufacturer with expertise in handling over 15 complex chemistries. Its products cater to industries including textiles, pharmaceuticals, performance chemicals, personal care, and agro-chemicals.
IIFL Capital Services has been appointed as the lead manager to assist the company on its maiden public offering.
The global specialty chemical intermediates market was valued at USD 1,309 billion in 2024 and is likely to reach USD 1,802 billion by 2029 at a 6.6 percent compound annual growth rate.
