Survival Technologies files draft IPO papers to raise Rs 1,000 crore

29 Dec 2022 , 03:20 PM

The speciality chemicals manufacturer, Survival Technologies Limited has filed draft red herring prospectus with SEBI. The company aims to raise Rs 1000 crore through this initial public offer (IPO).

As per DRHP, the IPO consists of fresh issue of Rs 200 crore and an offer-for-sale of up to Rs 800 crore by its existing promoters and shareholders including Vijaykumar Raghunandanprasad Agrawal, Nirmai Vijay Agrawal and Prabha Vijay Agarwal.

The company aims to utilize net proceeds from the IPO to fund the working capital requirements and to meet future demand of its product, future growth requirements and other business purposes.

Survival Technologies Limited is engaged in the business of a contract research and manufacturing services (“CRAMS”) which primarily focused speciality chemical manufacturer in India. The company manufactures selected products from the heterocyclic and fluoro-organic product groups for sale in India and abroad.

JM Financial Ltd and ICICI Securities Ltd are the lead managers while Link Intime Pvt Ltd is the Registrar of the issue.