SSF Plastics India Plans Rs 550 Crore IPO With Fresh Issue And Offer For Sale

SSF Plastics India Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 550 crore through an initial public offering. The proposed IPO comprises a fresh issue of equity shares worth Rs 300 crore and an offer for sale of Rs 250 crore by promoters and promoter group entities, according to the draft red herring prospectus filed on Thursday.

At present, promoters and promoter group entities hold 100 per cent stake in the company.

Proceeds from the fresh issue will be utilised for payment of debt, funding capital expenditure requirements for purchase of plant and machinery and for general corporate purposes.

SSF Plastics is a one-stop packaging solutions player providing end-to-end services from design to delivery across key product segments such as bottles and containers, caps/ closures and tubs, and engineering plastic components, among others.

The company caters to a wide range of end-user industries such as personal care, home care, food and beverages, consumer electronics, engine oil and lubricants, and pharmaceuticals.

On the financial front, SSF Plastics posted a profit of Rs 15.19 crore and a revenue from operations of Rs 397.41 crore for six months ended September 2024.

IIFL Capital Services Ltd and Nuvama Wealth Management Ltd. are the book-running lead managers to the issue.