Fine Organic Industries has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to float its initial public offering (IPO). The equity shares are proposed to be listed on BSE and NSE.
The IPO will see sale of up to 76,64,994 equity shares by the existing shareholders. The listing will enhance its brand name and provide liquidity to the existing shareholders.
JM Financial and Edelweiss Financial Service are book running lead managers to the issue.
Fine Organic Industries is a leading producer of speciality additives for foods, plastics, rubbers, paints, inks, cosmetics, coatings, textile auxiliaries, lubes and several other speciality applications.