Dorf-Ketal Chemicals Targets ₹5000 Crore IPO for Global Expansion

Dorf-Ketal Chemicals India Ltd has filed for a ₹5000 crore IPO with SEBI. The offering includes a fresh issue and a sale by Menon Family Holdings Trust. Funds will repay debt, aid subsidiaries, and support corporate aims. The company, with a global patent presence, has shown significant profit and revenue growth.

Specialty chemicals manufacturer Dorf-Ketal Chemicals India Ltd has initiated the process of raising ₹5,000 crore through an initial public offering (IPO), as per preliminary documents filed with SEBI. The IPO will feature a fresh issuance of equity shares worth up to ₹1,500 crore and an additional offer for the sale of shares worth ₹3,500 crore by the promoter group, Menon Family Holdings Trust.

According to its draft red herring prospectus filed recently, proceeds from the fresh share issue will specifically target debt reduction to the tune of ₹82.90 crore, while ₹33.30 crore is earmarked for subsidiary Dorf Ketal Chemicals FZE to manage its borrowings. Remaining funds will address general corporate needs.

Recognized for its investment in R&D and innovation, Dorf-Ketal, established in 1992, continues to establish a strong foothold in both traditional and emerging markets within the hydrocarbons and industrial supply chains. The firm operates 16 manufacturing facilities across four countries, boasting an impressive roster of customers like Reliance Industries and Indian Oil Corporation. With numerous patent registrations and strategic acquisitions to its name, the company has witnessed remarkable growth in profit and revenue in recent fiscal years.

(With inputs from agencies.)