Hemani Industries has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise Rs 2,000 crore through an initial public offering (IPO). The IPO will comprise fresh issue of equity shares aggregating up to Rs 500 crore and an Offer For Sale (OFS) of equity shares worth up to Rs 1,500 crore by its promoters.
The company will use the net proceeds worth Rs 129.71 crore for funding the capital expenditure requirement for the capacity expansion at Saykha industrial estate and Rs 48.34 crore for repayment or pre-payment of certain borrowings. Besides, Rs 93.87 crore will be utilised for investment and repayment or prepayment of certain borrowings in its wholly-owned subsidiary HCCPL and Rs 150 crore for funding the company's long term working capital requirement. The proceeds will also be used for general corporate purposes. JM Financial and Kotak Mahindra Capital are the book running lead managers for the IPO.
Hemani Industries, a part of Hemani Group is a leading manufacturer and exporter of Agrochemicals products in India.
Company Name | CMP |
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