look news india
This year, the IPO market will continue to stir, and it has a prominent name Doorf-Callee Chemicals India. The company has filed initial documents with SEBI to raise Rs 5000 crore.
Characteristics of IPO
The IPO of Doorf-Catal Chemicals India includes new equity shares of Rs 1500 crore. Along with this, the sale of shares worth Rs 3500 crore has been offered by the Promoter Menon Family Holdings Trust. The company is planning to raise funds of Rs 300 crore in the pre-IPO round, due to which the size of the IPO can be small. The company intention is to use Rs 1162 crore from the amount of fresh issue, mainly to repay the loan taken by self and auxiliary do’s chemicals FJD, while the remaining amount will be used for general corporate purposes.
Company background
The Doorf-Calle Chemicals were established in 1992 and is operating in four countries, including eight manufacturing facilities in India.
Customer and financial performance
The company’s customers include Mukesh Ambani’s Reliance Industries, as well as other major companies such as Petronas, Indian Oil Corporation, and Vedanta. By September 2024, the company had 1322 customers. In the financial year 2024, the company increased by 33.4 percent to Rs 602 crore, while revenue increased by 41.7 percent to Rs 5479.5 crore.
Cracks of march bankers
The company has appointed six merchant bankers for its IPO, including JM Financial, Citigroup Global Markets India, HSBC Securities and Capital Markets (India), JP Morgan India, Morgan Stanley India Company and Motilal Oswal Investment Advisors.