Safex Chemicals IPO: Speciality chemicals firm files DRHP with SEBI for ₹450 crore IPO
The offer also includes a subscription reservation by eligible employees in the employee reservation portion.
The offer is being made through the book-building process, wherein not more than 50 per cent of the offer is allocated to qualified institutional buyers, and not less than 15 per cent and 35 per cent of the offer is assigned to non-institutional and retail individual bidders, respectively.
According to the company, the proceeds from the fresh issue to the extent of ₹ 255.59 crore will be used for the repayment or prepayment of certain or all of the borrowings availed by it.
Besides, about ₹ 110 crore of the proceeds will be used to repay or prepay certain or all of the borrowings taken out by its subsidiary, Shogun Organics.
Some parts of the net proceeds will be used for general corporate purposes.
Axis Capital Limited, JM Financial Limited and SBI Capital Markets Limited are the book-running lead managers of the issue, while KFin Technologies is the registrar to the offer.
Incorporated in 1991, Safex Chemicals is a specialty chemicals company with a focus on agrochemicals.
It operates in branded formulation, speciality chemicals and contract development and manufacturing (CDM') verticals, catering to the needs of farmers and global agrochemical companies.
For the financial year 2022-23 (FY23), the company's revenue from operations stood at ₹ 1,161.02 crore, which rose to ₹ 1,404.59 crore in FY24 and ₹ 1,584.78 crore in FY25.
However, the company has been incurring losses in the last three financial years. In FY23, it suffered a loss of ₹ 1.02 crore, in FY24 ₹ 22.79 crore and in FY25 ₹ 14.29 crore.
EBITDA for FY23, FY24 and FY25 stood at ₹ 149.06 crore, ₹ 118.65 crore and ₹ 233.03 crore, respectively.
EBITDA margin for FY23, FY24 and FY25 stood at 12.84 per cent, 8.45 per cent and 14.70 per cent, respectively.
Read all IPO-related news here
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
44 minutes ago
- Time of India
Shakti Pumps raises Rs 292 cr via QIP
Solar pumps maker Shakti Pumps (India) Ltd on Monday said it has raised Rs 292.60 crore through Qualified Institutional Placement. The company issued 31.87 lakh shares to qualified institutional investors at Rs 918 per share, a 4.97 per cent discount to the Sebi floor price of Rs 965.96. The proceeds will be used to establish a high efficiency solar domestic content requirement (DCR) cell and solar PV modules manufacturing plant in Pithampur, Madhya Pradesh, through subsidiary Shakti Energy Solutions, with a production capacity of 2.20 GW, the company said in a statement. The in-house manufacturing of solar DCR cells will enhance backward integration and allow greater control over the entire value chain , thereby benefitting the company. " underscores the trust our investors have in our business model and growth strategy. We look to leverage these funds to advance our growth initiatives and enhance value for all stakeholders," Chairman Dinesh Patidar said. Live Events Madhya Pradesh-based Shakti Pumps manufactures solar pumps, energy-efficient stainless-steel submersible pumps, pressure booster pumps, pump motors and other products. The company has two manufacturing facilities with a combined capacity of 5,00,000 pumps per year in India.
Business Standard
an hour ago
- Business Standard
Shakti Pumps (India) raises Rs 292.60 cr via QIP issue
Shakti Pumps (India) has successfully closed its Qualified Institutions Placement (QIP) issue to institutional investors, raising Rs 292.60 crore. The QIP issue received an overwhelming response from existing and new prominent institutional investors, demonstrating their confidence in the company's future growth prospects and the overall performance. The proceeds from the QIP will be utilized for establishing a greenfield high efficiency solar DCR cell and solar PV modules manufacturing plant in Pithampur, Madhya Pradesh, through its subsidiary, Shakti Energy Solutions, with a production capacity of 2.20 GW. The in-house manufacturing of solar DCR cells will enhance backward integration and allow greater control over the entire value chain, thereby benefitting the company. The QIP issue was priced at Rs 918.00 per share, a 4.97% discount to the Sebi floor price of Rs 965.96, and the proceeds will further strengthen the company's financial position, enabling it to pursue its strategic objectives.
Fashion Value Chain
2 hours ago
- Fashion Value Chain
Aye Finance Ranked 3rd in India's Best Companies to Work 2025 by GPTW
Aye Finance, MSME lender providing working capital and business expansion needs to the micro enterprises in India has been ranked 3rd amongst the top 100 Best Companies to Work 2025, by Great Place to Work Institute, a globally recognised authority in creating, assessing, and identifying the best workplaces. Sanjay Sharma, MD; Krishan Gopal, CFO; and Ankur Sharma, Head – HR; receiving the Great Place to Work certification on behalf of Aye Finance Aye Finance has secured the 3rd position (across all industries) in the top 100 Best Places to Work for in India. This recognition is a result of an evaluation process that surveyed nearly 1,900 organisations across various industries in India. [This ranking has been secured after a detailed study, which is conducted in two parts – employee survey and people practices assessment. Aye Finance excelled on all 5 dimensions essential for building a 'high-trust, high-performance' culture, i.e. Fairness, Respect, Credibility, Pride and Camaraderie. Commenting on the milestone, Mr Sanjay Sharma, Managing Director, Aye Finance, said, 'We are proud to be ranked 3rd in the Great Companies to Work for the year 2025, by GPTW. Years of consistent focus on trying to build a positive employee work environment has earned us this recognition. At Aye, we try to treat each employee with respect by actively encouraging their professional growth and building pride in serving customers who have been excluded from organised finance. The Great Place to Work certification validates our efforts to try and build an organisation for our 9000 plus employees.' Great Place To Work is the global authority on workplace culture and its methodology, derived from years of studying the best workplaces across the globe, is recognised as rigorous and objective, and considered the gold standard for defining great workplaces across business, academia, and government organisations. Aye is a small-ticket lender in MSME lending landscape, providing working capital loans to micro-enterprises and to customers across manufacturing, trading, service and allied agriculture sectors. Our product offerings comprise mortgage loans, 'Saral' Property Loans, secured hypothecation loans and unsecured hypothecation loans. Our underwriting capability is a key competitive advantage that aids in assessing creditworthiness of our customers. Disclaimer Aye Finance (Private) Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, an initial public offering of its equity shares and has filed a draft red herring prospectus dated 16 December 2024 ('DRHP') with the Securities and Exchange Board of India ('SEBI')is available on the website of SEBI at the Company at
