new Delhi. Like last year, this year is also going to be very special for investors earning through Initial Public Offering (IPO). One after the other, many companies are bringing their IPO. Now in this episode, now chemical manufacturer Gujarat Polysol Chemicals Limited is also preparing to bring IPO. The company has filed a draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise Rs 414 crore through IPO.
The company’s IPO includes new shares worth Rs 87 crore and OFS of equity shares worth Rs 327 crore being sold by the shareholders. The company plans to use the proceeds from the IPO to partially or fully repay the debts taken by the company and for corporate purposes.
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Gujarat Polisol Chemicals is one of the leading manufacturers of chemicals for the Infra-Tech (Construction), Agro, Dyes and Leather Industries in India.
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Profits have grown at 6.42% CAGR rate
The company said that its total income for the half year ended September 30, 2021, FY 2021, FY 2020 and FY 2019 was Rs 183 crore, Rs 380 crore, Rs 440 crore and Rs 439 crore respectively. Its profit has grown at a CAGR rate of 76.42 per cent between the financial years 2019 and 2021.
Tags: IPO, Share market
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