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Balaji Specialty Chemicals IPO: Balaji Specialty Chemicals is making ready to carry IPO. The firm has filed a draft paper with the inventory market regulator SEBI to carry the IPO. The firm will increase Rs 250 crore by a recent problem within the IPO. At the identical time, the prevailing shareholders of the corporate will promote 2.6 crore shares from their stake.
Balaji Specialty Chemicals is a subsidiary of Balaji Amines, an organization listed on the inventory trade. The firm has filed a draft paper with SEBI on August 10. Whereas within the month of June, the Board of Directors had authorized to carry the IPO. The firm has mentioned within the draft paper that it could additionally do a pre-IPO placement of Rs 50 crore. In such a scenario, the dimensions of the IPO will be small.
The mortgage shall be repaid from the cash raised from the IPO. Along with will probably be spent on working capital and normal company necessities. At the identical time, the cash acquired from the supply truthful sale i.e. the shares shall be bought by the shareholders shall be distributed among the many shareholders.
The Bajaji Specialty Chemicals firm was fashioned within the yr 2010. The chemical compounds the corporate makes are used within the manufacture of specialty chemical compounds, agrochemicals and prescription drugs. The firm has a complete of 182 purchasers which embody UPI, Dr Reddy, Aarti Drugs. In 2021-22, the corporate’s income was Rs 514.28 crore, on which there was a revenue of Rs 108.95 crore.
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