Sillverton Industries Eyes Funds for Sustainability with Eco-Friendly IPO

Sillverton Industries, a pioneer in eco-friendly paper manufacturing, has filed draft documents with Sebi seeking approval to raise funds through an IPO. The offering comprises a fresh issuance of shares worth Rs 300 crore and an offer-for-sale of 3.22 crore equity shares by the promoters and promoter group.

The funds raised will significantly boost Sillverton's sustainability initiatives, including the installation of a 14 MW waste-to-energy power plant and a compressed bio gas plant. Additionally, Rs 25.25 crore will enhance manufacturing capabilities and storage facilities, with Rs 72 crore allocated for debt repayment and remaining funds for general corporate needs.

The company's financial performance has been robust with a reported income of Rs 752.45 crore and a profit of Rs 82.44 crore for the nine-month period ending December 31, 2024. Pantomath Capital Advisors is the appointed lead manager for the public issue.

(With inputs from agencies.)