The IPO will be a new issue of shares of shares without offer for sale, according to the Draft Red Herring Prospectus (DRHP) that was submitted on Friday.
The specialist chemical company plans to use RS 310 Crore for the financing of its Greenfield project, RS 65 Crore for paying debts and remaining funds for complying with general operating costs.
The total outstanding loans from the company amounted to more than RS 200 Crore from March 2025, the draft papers showed.
The company can also consider increasing to RS 99 Crore via a pre-ipo placement. If undertaken, the fresh problem size is reduced accordingly.
Supreen chemicals is headquarters in Gujarat and is a manufacturer of specialized chemical intermediates with expertise in dealing with 15 complex chemistry. The products are aimed at industries, including textiles, pharmaceutical products, performance chemicals, personal care, agro-chemicals and others. According to an F&S report, the worldwide market for specialties chemical intermediates was appreciated on USD 1,309 billion in 2024 and is expected to be USD 1,802 billion by 2029 with an annual growth rate of 6.6 percent (CAGR). APAC leads with a 56 percent share, followed by North America and Europe. India is expected to grow by 10 percent CAGR (2025-2030), powered by the demand and the limited supply, noted the report.
IIFL Capital Services has been appointed as chief manager to help the company with the first public offer.
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