Galaxy Surfactants IPO opens for subscription
Galaxy Surfactants, one of the leading manufacturers and marketers of surfactants and specialty chemicals in India for the personal and home care industry, has entered capital market with its initial public offer of 59.3 lakh equity shares today.
Galaxy Surfactants, one of the leading manufacturers and marketers of surfactants and specialty chemicals in India for the personal and home care industry, has entered capital market with its initial public offer of 59.3 lakh equity shares today.
The price band of the issue is fixed at Rs 325-340 a share. The Issue would constitute 25.07% of the fully diluted post issue paid-up capital of the company. The issue size will be Rs 192.72 crore at the lower band and Rs 201.62 crore at the upper band. The company intends to utilize the issue proceeds partly towards funding the capital expenditure of its step down subsidiary Galaxy Chemicals (Egypt) S.A.E, through investment in its subsidiary, Galaxy Holdings Mauritius Limited (GHML). The Company would also be funding the capital expenditure for setting up a new manufacturing facility at Jhagadia, Gujarat and towards expanding the capacities of its existing manufacturing units at Taloja and Tarapur. Motilal Oswal Investment Advisors Private Limited and Centrum Capital Limited are the Book Running Lead Managers to the Issue.For the nine months ended December 31, 2010, its total income and PAT as per the restated consolidated financial statements are Rs 682.35 crore and Rs 42.8 crrore respectively. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
