Gujarat-based specialty chemical company Supreet Chemicals has decided to tap capital markets as it has filed draft papers with the SEBI on September 5 to raise Rs 499 crore via initial share sale.
The IPO comprises of entirely fresh issue with no offer-for-sale component. Hence, the entire issue proceeds will be received by the company.
The company may consider raising funds up to Rs 99 crore in pre-IPO round. "If the pre-IPO placement is completed, the said amount will be reduced from the fresh issue," it said.
Of the total offer proceeds, Rs 310 crore will be used for the manufacturing facility 4, the proposed greenfield project, and Rs 65 crore for repayment of borrowings. The remainder of the funds will be utilised for general corporate purposes.
The company in its DRHP said its total outstanding borrowings amounted to Rs 203.5 crore as of July 2025.
Supreet Chemicals, the specialty chemical intermediates manufacturer, caters to end-use industries including textiles, pharmaceuticals, performance chemicals, personal care, and agro-chemicals. It is one of the leading manufacturers of certain specialty chemical intermediates such as MCA, sulphonamides and NAPSA based on aromatic amines and sulphonamides and amino phenols families, respectively.
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Further, it is also a key supplier of SAMBA, a complex molecule manufactured through 15 multi-step unit operations and processes.
On the financial front, Supreet Chemicals reported some inconsistency in the recent past years. Profit in the fiscal 2025 grew by 103 percent to Rs 51.9 crore, up from Rs 25.6 crore in the previous financial year. In the same period, revenue increased by 51.2 percent to Rs 362.5 crore, compared to Rs 239.8 crore. However, in the fiscal 2024, profit plunged 54.6 percent and revenue dropped 23.3 percent year-on-year.
It competes with several listed entities like Deepak Nitrite, Aarti Industries, Atul, Balaji Amines, Alkyl Amines Chemicals, Neogen Chemicals, and Rossari Biotech.
IIFL Capital Services is appointed as the sole book running lead manager for the Supreet Chemicals IPO.
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