Incorporated in 2010, Balaji Speciality Chemicals is a division of Balaji Amines Ltd. It is the sole producer of specialized chemicals using the monoethanolamine (MEA) process, including ethylene diamine (EDA), piperazine anhydrous (PIP), and diethylenetriamine (DETA), aminoethyl ethanolamine (AEEA), and aminoethyl piperazine (AEP).
The firm produces chemicals that serve as import substitutes for a variety of sectors, including medicine, agrochemicals, and specialty chemicals. Some of its principal clients are Aarti Drugs Ltd., Dr. Reddy’s Laboratories Ltd., Korea India Ltd., UPL Ltd., and Nanjing Union Chemical Co. Ltd.
However, on August 12, Balaji Speciality Chemicals, a specialty chemical firm based in Solapur, submitted preliminary documents for an initial public offering (IPO) to the Securities and Exchange Board of India (SEBI).
In its draft red herring prospectus (DRHP), Balaji Speciality Chemicals explained that the offer consisted of a new share issuance valued at Rs250 crore and an offer-for-sale (OFS) of up to Rs26 lakh equity shares sold by the company’s founders and shareholders.
The company plans to pay off Rs. 68 crores in debt with the proceeds from the offering and use the remaining Rs119.5 crores for working capital and other general business needs. In a pre-IPO placement, the business could also try to raise an extra Rs50 crore.
IIFL Customer Care Number 
IIFL Capital Services Support WhatsApp Number
