Indian Emulsifiers files draft papers with NSE to raise funds via IPO
Indian Emulsifier Ltd has submitted its draft red herring prospectus (DRHP) to the NSE for the purpose of raising funds through a public offer, intending to issue up to 3,500,000 fresh equity shares.
According to reports, the shares will be offered within a price band of approximately ₹115-128 per share. At the upper end of this price band, the company anticipates raising ₹44.80 crore. The book-running manager for the issue is Ekadrisht Capital.
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GJNX Ventures, supported by Gunavanthkumar Vaid, renowned for his inclination towards SME and small cap enterprises, holds a 1.80 percent stake in the company at the time of the DRHP filing.
As outlined in the prospectus, the proceeds from the offering will be directed towards financing the company’s capital expenditure needs related to Plant & Machinery, Civil work, and associated installation costs. The acquisition of advanced machinery is specifically aimed at meeting the projected increase in demand resulting from upcoming sales efforts.
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According to filing details, the revenue from operations for December 2023 stands at ₹48.67 crore, while for the period ending March 2023, it amounts to ₹41.17 crore. EBITDA for December 2023 is reported at ₹11.20 crore with EBITDA margins of 22.99 percent, whereas for March 2023, EBITDA is noted at ₹7.86 crore with EBITDA margins of 19.09 percent. Profit After Tax (PAT) for December 2023 is declared at ₹6.75 crore, reflecting margins of 13.87 percent, and for March 2023, PAT stands at ₹3.89 crore with net profit margins of 9.46 percent.
Indian Emulsifier is a prominent player in the specialty chemical industry, specializing in Esters, Phosphate Esters, Imidazolines, Succinimides, Sulfosuccinates, Specialty Emulsifiers, and formulated products. The company caters its specialty chemicals to a diverse range of industries, including Mining, Textile, Cleaning Industry, PVC (Poly Vinyl Chloride)/ Rubber, Personal Care, Food, and others.
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Published: 11 Feb 2024, 02:34 PM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.