SK Minerals & Additives Sets IPO Pricing: Fresh Issue to Propel Growth
Ludhiana-based SK Minerals & Additives is launching an IPO with Rs 120-127 per share pricing. The Rs 41.15 crore share sale, all fresh issue, will fund working capital, capital expenditure, and general purposes. The offering focuses on specialty chemicals for diverse industries.
- Country:
- India
In a move to enhance its financial muscle, SK Minerals & Additives has announced the price band for its upcoming initial public offering (IPO) from Rs 120 to Rs 127 per share. The Rs 41.15 crore public subscription is scheduled to open on October 10 and close on October 14.
The Ludhiana-based company, which specializes in manufacturing and trading specialty chemicals like chelated minerals and mineral mixtures, is poised to utilize the IPO proceeds largely for working capital, capital expenditure, and corporate growth strategies.
SK Minerals reported a revenue of Rs 85.27 crore with a PAT of Rs 5.02 crore in the first five months of the current financial year, showcasing its financial stability ahead of its listing on the BSE's SME platform.
(With inputs from agencies.)
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