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Shakun Polymers has filed draft papers with capital markets regulator SEBI to float an initial public offering. The IPO comprises fresh issue of shares worth Rs 75 crore and an offer for sale of up to 18 lakh equity stocks by the existing shareholders, according to the draft papers filed with the Securities and Exchange Board of India (SEBI).
Shakun is a leading player in the field of compounds for the wire and cable market. It has two manufacturing facilities at Halol district in Gujarat and one at Daman, having a total installed capacity of over 25,000 tonnes per annum. Proceeds of the issue will be utilised towards setting up a new unit for manufacture of Halogen Free Flame Retardant (HFFR) compounds and general corporate purposes.
Vivro Financial Services Pvt Ltd will manage the company’s public issue and shares will be listed on the BSE and NSE.
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