Gujarat Polysol gets IPO approval

26 Jul 2022 , 02:58 PM

Gujarat Polysol Chemicals has received approval from SEBI for its IPO. The IPO will raise up to Rs414 crore. This will include sale of fresh equity shares of up to Rs 87 crore. Offer-for-sale (OFS) will involve sale of shares of up to Rs327 crore from the promoters of the company. The company will use the proceeds from the IPO for paying its debt and for general corporate purpose. 

Gujarat Polysol is a manufacturer of chemicals. It manufactures chemicals that are used by construction industry, agro industry, dyes industry and leather industry. The company is in business since the year 1987. The company claims to be one of the few manufacturers of PCE powder globally. The company has three manufacturing facilities in India. Its total installed manufacturing capacity currently is 130,400 Metric Tons per annum. 

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