Galaxy Surfactants IPO : CRISIL gives 4 out of 5

by khalid on 19/01/2011 · 0 comments

Galaxy Surfactants IPO has got 4 out of 5 by CRISIL (rating agency) and this rating/grading is ‘Above Average’ for a surfactants component manufacturing company. The grade 4 indicates that the fundamentals of the IPO are ‘Above Average’ compared to the other listed securities in India. Galaxy Surfactants manufactures surfactants and specialty chemicals in India for personal and home care segments, and markets them globally. Surfactants are surface active agents which reduce interfacial tension between two phases. Having started with only two products, the company currently manufactures and markets 66 products across 70 countries.

The IPO proceeds will be used by Galaxy Surfactants Limited to set up its greenfield manufacturing facility in Egypt amounting to Rs 212 crore, to set up a new manufacturing facility at Jhagadia, Gujarat for Rs 70 crore, for expansion of capacities at the existing manufacturing units in Tarapur amounting to Rs 47 crore and to fund the expansion of capacities at the existing manufacturing units in Taloja for Rs 13.5 crore.

The Equity Shares are proposed to be listed on the Bombay Stock Exchange Limited (BSE) and the National Stock Exchange of India Limited (NSE).

Book running lead managers to the issue are Motilal Oswal Investment Advisors and Centrum Capital Ltd .

Registrar of the Issue : Link Intime (India).

Stay tuned to BelltheBull Blog for more news on Galaxy Surfactants IPO !

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