Supreet Chemicals files draft papers with Sebi to raise Rs 499-cr via IPO

Synopsis

Supreet Chemicals Limited is planning to launch an IPO. The company has filed documents with the market regulator, Sebi. The goal is to raise Rs 499 crore. The funds will support a new greenfield project and reduce debt. A portion of the funds may come from a pre-IPO placement. The company is based in Gujarat and specializes in chemical intermediates.

Supreet Chemicals Ltd has filed preliminary papers with markets regulator Sebi for raising Rs 499 crore through an initial public offering (IPO) to fund its greenfield project and pare debt.

The IPO will be entirely a fresh issue of equity shares with no offer-for-sale component, according to the draft red herring prospectus (DRHP) filed on Friday.

The specialty chemicals company plans to use Rs 310 crore for financing its greenfield project, Rs 65 crore for paying debt and remaining funds for meeting general corporate expenses.

The company's total outstanding borrowings amounted to over Rs 200 crore as of March 2025, the draft papers showed.

The company may also consider raising up to Rs 99 crore through a pre-IPO placement. If undertaken, fresh issue size will be reduced accordingly.

Headquartered in Gujarat, Supreet Chemicals is specialty chemical intermediates manufacturer with expertise in handling over 15 complex chemistries. Its products cater to industries including textiles, pharmaceuticals, performance chemicals, personal care, agro-chemicals and others.

According to an F&S report, the global specialty chemical intermediates market was valued at USD 1,309 billion in 2024 and projected to reach USD 1,802 billion by 2029 at a 6.6 per cent compound annual growth rate (CAGR).

APAC leads with 56 per cent share, followed by North America and Europe. India is expected to grow at 10 per cent CAGR (2025-2030), driven by demand and constrained supply, the report noted.

IIFL Capital Services has been appointed as the lead manager to assist the company on its maiden public offering.

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