SSF Plastics India Ltd Aims for Rs 550 Crore IPO Launch

SSF Plastics India Ltd plans to raise Rs 550 crore via IPO, with Rs 300 crore as new equity shares and Rs 250 crore offered by promoters. The funds will address debts, capital expenditures, and other corporate needs. The company serves various industries with comprehensive packaging solutions.

SSF Plastics India Ltd has taken a decisive step towards boosting its financial prospects by filing papers with the Securities and Exchange Board of India (Sebi) for an ambitious Rs 550 crore initial public offering (IPO). This significant move is outlined in the draft red herring prospectus (DRHP) submitted recently.

The IPO is composed of a fresh issuance of equity shares valued at Rs 300 crore and an offer for sale (OFS) amounting to Rs 250 crore by the company's promoters and associated entities. Currently, these promoters hold the entire stake in the company.

The capital raised will be strategically channelled towards debt repayment, capital expenditure for new plant and machinery, and general corporate purposes. SSF Plastics is recognized for its comprehensive packaging solutions and services a diverse sector of industries including personal care, food and beverages, and pharmaceuticals, among others.

(With inputs from agencies.)