Balaji Speciality Chemicals Ltd files DRHP for fund raising

The Board of Directors of Balaji Amines Limited's material subsidiary, Balaji Speciality Chemicals Limited ("BSCL") had accorded their approval for fund raising, subject to receipt of requisite approvals including approval of the shareholders, market conditions and other considerations, by way of an initial public offer of its Equity Shares, in accordance with the Companies Act, 2013 and the rules made thereunder ("Companies Act"), the Securities and Exchange Board of India (lssue of Capital and Disclosure Requirements) Regulations, 2018, as amended and other applicable laws (the "Offer").

The proposed Offer consists of a fresh issue of Equity Shares aggregating upto Rs. 2,500.00 million (including share premium) and an offer for sale of up to 26,000,000 Equity Shares by certain existing and eligible shareholders of BSCL. The Company will not be participating in the proposed Offer.

BSCL has announced that it has filed a draft red herring prospectus dated August 10, 2022 with the Securities and Exchange Board of India.

Shares of Balaji Amines Limited was last trading in BSE at Rs. 3557.20 as compared to the previous close of Rs. 3694.70. The total number of shares traded during the day was 55215 in over 7478 trades.

The stock hit an intraday high of Rs. 3830.00 and intraday low of 3505.15. The net turnover during the day was Rs. 203177392.00.

Source : Equity Bulls

Keywords

BalajiAmines INE050E01027 BalajiSpecialityChemicals DRHP SEBI FundRaising IPO