SPC Life Sciences files preliminary IPO papers with SEBI

29 Mar 2023 , 10:56 AM

The specialty chemical manufacturing company SPC Life Science has filed draft papers with the market regulator SEBI to raise funds through IPO route.

The company is planning to raise Rs 300 crore through a fresh issue of equity shares and an offer for sale of up to 8.94 million shares by its promoter, Snehal Ravjibhai Patel. Currently, Patel holds a 98.18% stake in the company.

The company will use net proceeds from the issue towards debt payment and meeting the working capital requirements of the company. It will also use the amount towards capital expenditure for setting up Phase 2 at its Dahej Facility, with the aim of expanding its products production. 

In financial terms, the revenue of the company increased to Rs 145.64 crore in fiscal year 2021-22 from Rs 132.95 crore in previous year. Net profit for the year also rose from Rs 16.67 crore to Rs 19.23 crore. The company’s EBITDA margin expanded from 16.96% in the previous year to 20.62% in FY22. As of September 2022, the company’s total debt stood at Rs 60.61 crore.

Ambit Pvt Ltd and HDFC Bank are the merchant bankers of the issue and Link Intime India Pvt Ltd is the registrar.