Mitsu Chem Plast has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise up to Rs 125 crore through a follow-on public offer (FPO).
Proceeds from the issue will be used to repay debt, fund the working capital requirements of the company and for general corporate purposes. IDBI Capital Markets & Securities is the sole book running lead manager to the issue.
Mitsu Chem Plast is a packaging solutions provider engaged in the business of manufacturing polymer-based molded products mainly used for industrial packaging for industries like chemicals, agrochemicals, pharmaceuticals, lubricants, food and edible oil.
