Survival Technologies gets SEBI nod for Rs 1000-crore IPO; fresh issue of shares at Rs 200 crore
时间:2024-06-26 10:47:28 阅读(143)
Survival Technologies Ltd has received SEBI’s approval to raise Rs 1,000 crore through an initial public offering (IPO). The company filed preliminary IPO papers with the market regulator on December 28, 2022. The public issue consists of a fresh issue of equity shares worth up to Rs 200 crore and an offer-for-sale (OFS) of up to Rs 800 crore with a face value of Rs 2 per equity share. Promoter and selling shareholders comprise up to Rs 544.41 crore by Vijaykumar Raghunandanprasad Agrawal, Rs 212.41 crore by Nimai Vijay Agrawal, and Rs 43.18 crore by Prabha Vijay Agarwal.
The company may also consider a pre-IPO placement of specified securities for cash consideration in consultation with the lead bankers and if it is completed, the issue size will be reduced accordingly. The proceeds from the IPO worth Rs 175 crores will be used towards funding its working capital requirements and general corporate purposes, according to the company. JM Financial Limited and ICICI Securities Limited are the book-running lead managers and Link Intime India Private Limited is the registrar of the issue.
Its key customers include multinational corporations such as Evonik Industries AG (“Evonik”), Chori Co. Limited (“Chori”), BioSpectra Inc. (“BioSpectra”), LBB Specialities, Procos, MOEHS Iberica, S.L., Sumitomo Corporation, Synthetics USA, LLC, Alzchem Trostberg GmbH and domestic companies such as Lee Pharma Limited, MSN Laboratories Private Limited, Sai Life Sciences Limited, and Dr Reddy’s Laboratories. As of June 30, 2022, it had served 201 customers.
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