Supreet Chemicals Ltd Set for Rs 499 Crore IPO to Fuel Greenfield Expansion
Supreet Chemicals Ltd aims to raise Rs 499 crore through an IPO to fund a new greenfield project and reduce debt. The IPO will consist entirely of new equity shares. The company plans major investments in green projects and may adjust the IPO size depending on pre-IPO placements.
- Country:
- India
Supreet Chemicals Ltd is preparing for an initial public offering, targeting to raise Rs 499 crore to finance its greenfield project and address its debt obligations.
According to the draft red herring prospectus filed with the Securities and Exchange Board of India, the IPO will be solely a fresh issuance of equity shares, without any offer-for-sale component.
The funds raised will allocate Rs 310 crore for the greenfield project, Rs 65 crore for debt repayment, and the balance for corporate expenses.
(With inputs from agencies.)
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