Survival Technologies gets SEBI nod to float IPO
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Survival Technologies has received the Securities and Exchange Board of India’s (SEBI's) approval to float an initial public offering (IPO). The IPO comprises a fresh issue of equity shares aggregating up to Rs 200 crore, and an OFS of up to Rs 800 crore by its promoters and promoter group shareholders.
Proceeds from the issue worth Rs 175 crore will be utilised towards funding the working capital requirements of the company and other general corporate purposes. JM Financial and ICICI Securities are the book running lead managers to the issue. The equity shares are proposed to be listed on both the bourses -- NSE and BSE.
The Mumbai-based firm is a Contract Research And Manufacturing Services (CRAMS) focused speciality chemical manufacturer in India. It is one of the few speciality chemical manufacturers in India manufacturing select products from the heterocyclic and fluoro organic product groups for sale in domestic and in international markets.
