homemarket NewsGujarat Polysol Chemicals files DRHP for Rs 414 crore IPO

Gujarat Polysol Chemicals files DRHP for Rs 414 crore IPO

Chemical manufacturer Gujarat Polysol Chemicals Ltd filed its preliminary papers with SEBI to raise Rs 414 crore through an Initial Public Offering (IPO). The DRHP states that the initial share sale comprises a fresh issue of equity shares aggregating up to Rs 87 crore and an offer-for-sale (OFS) of equity shares aggregating up to Rs 327 crore by its promoters.

By PTI Mar 25, 2022 4:41:33 PM IST (Published)


Chemical manufacturer Gujarat Polysol Chemicals Ltd (GPCL) has filed its preliminary papers with the Securities and Exchange Board of India (SEBI) to raise Rs 414 crore through an Initial Public Offering (IPO).
The initial share sale comprises a fresh issue of equity shares aggregating up to Rs 87 crore and an offer-for-sale (OFS) of equity shares aggregating up to Rs 327 crore by its promoters, according to the Draft Red Herring Prospectus (DRHP).
There will be no pre-IPO placement for this issue. The company will use the net proceeds towards repayment or pre-payment in full or in part of all borrowing availed by the company and general corporate purposes.