Markets

A-1 Acid raises ₹18 cr

Our Bureau Mumbai | Updated on October 04, 2018 Published on October 04, 2018

A-1 Acid, an industrial acid and chemical supplier for textile, steel and aluminium industries, has raised ₹18 crore through an initial public offering on the SME platform. Dolfin Rubbers, which is engaged in manufacturing all types of auto and animal-driven vehicle tubes, also raised ₹5.2 crore, issuing 20 lakh shares at a fixed price of ₹26 a share.

Both the issues, which were managed by Guiness Corporate Advisory Services, will list on the BSE SME platform.

A-1 Acid had issued 30 lakh shares at a fixed price of ₹60 a share to meet working capital requirements.

The company’s major clients include s, Meghmani Organics, Bodal Chemicals, Hindalco, NTPC, GSFC, IIFCO, Grasim, Jindal Stainless, JSW Energy, Amul. It recorded revenue of ₹96 crore and profit of ₹2.48 crore in FY18.

Dolfin Rubbers manufactures a wide range of butyl rubber tubes suitable for tyres used in mopeds, scooters, motorcycles, cars, jeeps, buses, trucks and tractors.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on October 04, 2018
This article is closed for comments.
Please Email the Editor