Proceeds from the fresh issue to the tune of Rs 82.90 crore will be allocated to repay debt of the company, Rs 33.30 crore will be invested in subsidiary Dorf Ketal Chemicals FZE to repay or prepay its outstanding borrowings, and the remaining funds will be used for general corporate purposes.
Speciality chemicals company Dorf-Ketal Chemicals India Ltd has filed preliminary papers with markets regulator Sebi seeking its approval to raise Rs 5,000 crore through an initial public offering (IPO).
The IPO comprises a fresh issue of equity shares aggregating up to Rs 1,500 crore and an offer for sale of shares worth Rs 3,500 crore by promoter Menon Family Holdings Trust, according to the draft red herring prospectus (DRHP) filed on Friday.
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