Mitsu Chem Plast files DRHP for IPO worth Rs125 crore

8 Jul 2022 , 02:05 PM

Mitsu Chem Plast, a packaging solutions provider, has filed preliminary papers with capital markets regulator SEBI and seeks to raise Rs125 crore through an Initial Public Offering (IPO). According to the Draft Red Herring Prospectus (DRHP), the IPO is an entirely new issue of “equity shares aggregating up to Rs12,500 lakh”.

The proceeds of the offering will be used to repay debt, fund the company’s working capital requirements, and for general corporate purposes.

Mitsu Chem Plast is a packaging solutions provider that manufactures polymer-based moulded products that are primarily used for industrial packaging in industries such as chemicals, agrochemicals, pharmaceuticals, lubricants, food, and edible oil.

The company seeks to list shares on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).