According to the Draft Red Herring Prospectus (DRHP), fresh shares up to Rs 12,500 lakh will be issued under this IPO.
Mitsu Chem Plast IPO: Packaging solutions provider Mitsu Chem Plast is going to bring its IPO. The company has filed a draft paper with the market regulator SEBI for this. The company wants to raise Rs 125 crore through this IPO. According to the Draft Red Herring Prospectus (DRHP), fresh shares up to Rs 12,500 lakh will be issued under this IPO. At the same time, there will be no offer for sale (OFS) in it.
Fund will be used here
The proceeds from the issue will be used to repay the loan and meet the working capital requirements of the company. Apart from this, the fund will also be used for general corporate purposes.
Know about the company
Mitsu Chem Plast is a packaging solution provider company. This company manufactures polymer based molded products. Which is mainly used in industrial packaging for industries like chemicals, agro-chemicals, pharmaceuticals, lubricants, food and edible oils. The company’s shares will be listed on the domestic stock exchanges BSE and NSE. IDBI Capital Markets & Securities Limited is the sole Book Running Lead Manager to the issue.