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Hemani Industries files draft papers, to raise Rs 2,000 crore via IPO

Promoters Jayesh Mohan Dama, Mohan Sunderji Dama, and Minal Mohan Dama, who cumulatively hold 100 percent shareholding in the company, will sell shares worth Rs 500 crore each through the OFS

March 29, 2022 / 02:21 PM IST
Chemicals

Chemicals

Agrochemicals and specialty chemicals manufacturer Hemani Industries has filed preliminary papers with the capital markets regulator Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).

The company plans to raise up to Rs 2,000 crore through its public issue that comprises a fresh issue of Rs 500 crore and an offer for sale (OFS) of Rs 1,500 crore by the promoters.

Promoters Jayesh Mohan Dama, Mohan Sunderji Dama, and Minal Mohan Dama, who cumulatively have a 100 percent shareholding in the company, are going to sell shares worth Rs 500 crore each.

The company may also consider a private placement of Rs 100 crore before filing the red herring prospectus with the registrar of companies. If this pre-IPO placement is undertaken, the fresh issue size will be reduced accordingly.