Mehul Colours & Masterbatches Sets IPO Price Band at Rs 68-72 Per Share

Mehul Colours & Masterbatches, a specialist in customised masterbatch manufacturing, has set its IPO price band at Rs 68-72 per share, aiming to raise Rs 22 crore. The IPO, launching on July 30, will enter the capital markets and conclude on August 1, with shares subsequently listing on the BSE SME platform.

The company's initial share sale consists exclusively of a fresh issuance of 30.08 lakh equity shares. Net proceeds are planned for use in capital expenditures for a new manufacturing facility, meeting working capital needs, and for general corporate purposes.

The funds will be pivotal in enhancing R&D, expanding production infrastructure, and fostering product innovation, according to Mehul Colours' MD Mehul Pravinchandra Joshi. The move aims to strengthen the company's footprint in the colour and additive masterbatch sector, highlighting its role in providing solutions for the evolving plastics processing industry.

(With inputs from agencies.)