Ludhiana-based SK Minerals & Additives, a specialty chemicals manufacturer, has filed draft papers with BSE SME to raise funds through an initial public offering. The IPO is entirely a fresh issue of up to 32.4 lakh equity shares with a face value of Rs 10 each and the shares of the company are proposed to be listed on the BSE SME, according to the draft red herring prospectus filed on April 28.
The proceeds from the IPO, worth Rs 31 crore will be used to meet the working capital requirements of the company, Rs 5.55 crore for capital expenditure such as purchase of plant and machinery and the balance for general corporate purposes.
Incorporated in 2022, SK Minerals & Additives is engaged in the business of trading and manufacturing of specialty chemicals, with a primary focus on food and feed additives.
The company serve critical functions in various applications, particularly in the food and bakery, animal feed, petroleum, plywood, and other allied industries. It is currently developing niche and next-generation products within its R&D pipeline.
SK Minerals & Additives posted Rs 113.92 crore revenue from operations with a profit after tax of Rs 5 crore in the first seven months of the financial year 2025, ended Oct. 31, 2024, as compared to Rs 108.76 crore revenue and a profit after tax of Rs 3.09 crore in fiscal 20224.
Khambatta Securities is the sole book running lead manager while Maashitla Securities is the registrar to the issue.
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