Venture Intelligence (TSJ Media Pvt. Ltd.)
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Prasol Chemicals files draft papers with Sebi; eyes Rs.800-Cr
Specialty chemicals maker Prasol Chemicals has filed preliminary papers with capital markets regulator Sebi to raise INR 800 crore through an initial share-sale. The IPO may include a fresh issue of equity shares aggregating INR 250 crore and an offer-for-sale (OFS) of 90 lakh equity shares by existing shareholders. The proceeds from the fresh issue to the tune of INR 160 crore will be used for payment of debt and INR 30 crore for working capital requirements. Besides, funds will be used for general corporate purposes. Prasol Chemicals has evolved from being a small-scale manufacturer to a big diversified specialty chemical company with a global presence. JM Financial and DAM Capital Advisors are the book-running lead managers to the issue.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.