Galaxy Surfactants is a manufacturer and markets surfactants and specialty chemicals. The company is planning to enter capital market with its maiden public issue aggregating upto Rs 201.62 crore for equity shares of face value Rs 10 each. The company has filed a Draft Red Herring Prospectus (DRHP) on 25th August 2010 with market regulator Securities and Exchange Board of India (SEBI). The premium to be decided via 100% book building process. The issue is likely to hit market next month or early October.
The company proposes to issue 59.30 lakh shares through its maiden public float. There are 19 nationalised banks and 18 of them are listed, with the latest being the Kolkata-based United Bank of India that got listed earlier this year.
The IPO proceeds would part finance the capex plan of its step down subsidiary GC Egypt, set up new manufacturing unit at Jhagadia in Gujarat and to expand its existing capacities at Tarapur and Taloja units.
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).
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