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Flexituff International plans to raise around Rs 100 crore through an initial public offering (IPO) in July.
The IPO would also mark the part-exit of Clearwater Capital, which holds a 25 percent stake in the company.
“Post dilution, the founders will hold 60 per cent stake and Clearwater Capital will hold 11 per cent stake,” said Mr Saurabh Kalani, Chief Operating Officer, Flexituff International.
The IPO funds will be utilised for the expansion of manufacturing facilities at the company's SEZ and DTA units at Pithampur, for a dripper project in Kashipur, for working capital requirements, for general corporate purposes and to meet issue expenses.
Collins Stewart Inga is the Book Running Lead Manager and Link Intime is the registrar to the issue.
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