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IPO, New Issues

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Shakun Polymers Ltd, a leading player in the field of compounding for the wire & cable market, has filed a Draft Red Herring Prospectus (DRHP) with markets regulator SEBI for a proposed IPO. The offer includes a fresh issue of equity shares aggregating up to Rs750cr (fresh issue) and an offer for sale of up to 1,800,000 equity shares by the selling shareholders . Vivro Financial Services Pvt Ltd is the book running lead manager to the offer, while Link Intime India Pvt Ltd is the registrar. The equity shares, when offered through the Red Herring Prospectus (RHP), are proposed to be listed on the BSE and the NSE. The company proposes to utilize the net proceeds from the fresh issue towards setting up of a new unit for manufacturing halogen-free flame retardant ( HFFR ) compounds and general corporate purposes. Shakun is an ISO-9001 certified company which is headquartered in Vadodara and has two manufacturing facilities at Halol in Gujarat and one at Daman. The facilities have an aggregate installed capacity of over 25,000 MTPA. Shakun is also one of the first movers in India for manufacturing of HFFR compounds and one of the leading exporters for HFFR compounds from India.

10.09 AM May 7th
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