Shakun Polymers has filed a Draft Red Herring Prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise funds through an Initial Public Offering (IPO). The offer comprises of fresh issue of equity shares aggregating up to Rs 75 crore and an offer for sale of up to 18 lakh equity shares by selling shareholders.
The company proposes to utilize the net proceeds from the issue towards setting up of new unit for manufacturing Halogen Free Flame Retardant (HFFR) compounds and general corporate purpose. The equity shares are proposed to be listed on the BSE and the NSE.
Vivro Financial Services is the book running lead manager to the offer, while Link Intime India is the registrar to the issue.
Shakun Polymers, a leading player in the field of compounding for the wire & cable market, is also one of the first movers in India for manufacturing of HFFR compounds and one of the leading exporters for HFFR compounds from India.