Omkar Speciality Chemicals files IPO papers with SEBI

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Speciality chemicals manufacturer Omkar Speciality Chemicals is planning an initial public offering (IPO) of 81 lakh equity shares. It has filed draft red herring prospectus (DRHP) with the market regulator Securities & Exchange Board of India (SEBI).

The issue will constitute 41.27% of the fully diluted post issue paid-up capital of company.

The company is mainly engaged in the manufacture and sale of speciality chemicals viz. selenium compounds, iodine compounds, molybdenum compounds etc. and pharma intermediates viz. Potassium Iodate, Bismuth Ammonium Citrate, Bromoform etc.

It has a diverse customer base from different industry segments like pharmaceutical, chemical, glass, cosmetics, ceramic pigments, etc.

It intends to use issue proceeds for setting up of new manufacturing facility at Unit 4 at Badlapur, Maharashtra; expansion of existing manufacturing facilities at Unit 1, Unit 2 & Unit 3 at Badlapur, Maharashtra and working capital requirements.

Unit	Existing Installed Capacity	Proposed Installed Capacity after Expansion
Unit 1	375	600
Unit 2	375	900
Unit 3	200	900
Unit 4	Nil	1250
Total	950	3650

 

 

 

 

 

 

For the year ended March 31, 2010, Omkar Speciality has reported net profit of Rs 5.13 crore on total income of Rs 68.92 crore.