Balaji Specialty Chemicals IPO: Balaji Specialty Chemicals is preparing to bring IPO. The company has filed a draft paper with the stock market regulator SEBI to bring the IPO. The company will raise Rs 250 crore through a fresh issue in the IPO. At the same time, the existing shareholders of the company will sell 2.6 crore shares from their stake.
Balaji Specialty Chemicals is a subsidiary of Balaji Amines, a company listed on the stock exchange. The company has filed a draft paper with SEBI on August 10. Whereas in the month of June, the Board of Directors had approved to bring the IPO. The company has said in the draft paper that it can also do a pre-IPO placement of Rs 50 crore. In such a situation, the size of the IPO can be small.
The loan will be repaid from the money raised from the IPO. Along with it will be spent on working capital and general corporate requirements. At the same time, the money received from the offer fair sale i.e. the shares will be sold by the shareholders will be distributed among the shareholders.
The Bajaji Specialty Chemicals company was formed in the year 2010. The chemicals the company makes are used in the manufacture of specialty chemicals, agrochemicals and pharmaceuticals. The company has a total of 182 clients which include UPI, Dr Reddy, Aarti Drugs. In 2021-22, the company’s revenue was Rs 514.28 crore, on which there was a profit of Rs 108.95 crore.