Gujarat Polysol Chemicals has received the Securities and Exchange Board of India’s (SEBI) approval to raise Rs 414 crore through an initial public offering (IPO). The equity shares are proposed to be listed on BSE and NSE.
The IPO comprises fresh issue of equity shares aggregating up to Rs 87 crore and an Offer-For-Sale (OFS) of equity shares aggregating up to Rs 327 crore by its promoters. The company will use the net proceeds to retire debt and general corporate purposes.
Gujarat Polysol Chemicals is amongst the leading chemical manufacturers for the Infra-tech (Construction), agro, dyes and leather industries in India. We are also amongst the leading supplier of dispersing agents in the Infra-tech, dye and pigments, and textile and leather industries and a leading supplier of powder surfactants in India.