Latest News | Mitsu Chem Plast Files Rs 125 Cr IPO Papers with Sebi

New Delhi, Jul 7 (PTI) Packaging solutions provider Mitsu Chem Plast has filed preliminary papers with capital markets regulator Sebi to raise Rs 125 crore through an Initial Public Offering (IPO).

The IPO is entirely a fresh issue of "equity shares aggregating up to Rs 12,500 lakh," according to the Draft Red Herring Prospectus (DRHP).

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Proceeds from the issue will be used to repay debt, funding the working capital requirements of the company and general corporate purposes.

Mitsu Chem Plast is a packaging solutions provider engaged in the business of manufacturing polymer based molded products mainly used for industrial packaging for industries like chemicals, agrochemicals, pharmaceuticals, lubricants, food and edible oil.

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The company's shares will be listed on domestic stock exchanges BSE and NSE.

IDBI Capital Markets & Securities Ltd is the sole book running lead manager to the issue.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)