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SSF Plastics India has received the Securities and Exchange Board of India’s (SEBI's) approval to raise Rs 550 crore through an initial public offering (IPO). The proposed IPO comprises a fresh issue of equity shares worth Rs 300 crore and an offer for sale (OFS) of Rs 250 crore by promoters and promoter group entities.

Proceeds from the fresh issue will be utilised for payment of debt, funding capital expenditure requirements for purchase of plant and machinery and for general corporate purposes. IIFL Capital Services and Nuvama Wealth Management are the book-running lead managers to the issue.

SSF Plastics is a one-stop packaging solutions player providing end-to-end services from design to delivery across key product segments such as bottles and containers, caps/ closures and tubs, and engineering plastic components, among others.