IPO
Sulphur-based chemicals maker Shanti Inorganics to raise Rs 47-Cr on NSE Emerge
Ahmedabad-based Shanti Inorganics plans to raise INR 47 crore through an initial public offering on the NSE Emerge platform. The company will issue 56.91 lakh equity shares within a price band of INR 79 to INR 83 per share. The IPO subscription is scheduled to open on August 31, with anchor investor bidding beginning on August 28. Vivro Financial Services is the book running lead manager for the transaction.The company is a manufacturer and supplier of sulphur-based inorganic chemicals. Its product portfolio includes ammonium bisulphite, sodium bisulphite, sodium metabisulphite, and sodium sulphite, with an annual production capacity of 18,800 MTPA.The firm intends to use the net proceeds from the IPO to partially fund the capital expenditure for establishing a new manufacturing facility at Ahmedabad.
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