The net proceeds from the public offer will be used for funding working capital requirements, repayment of debt, and other general corporate purposes.
The company is engaged in the business of manufacturing of pigment, and the trading of chemicals and food colours. The pigments manufactured by it find diverse applications across various industries such as plastic, rubber, textiles, paper, printing inks, paints and coating.
Within Pigments, the company specializes in Pigment Blue 15:3 and 15:4, with an annual production capacity of 1878 mtpa. Its products are marketed under the registered brand name Unilex.
The company caters to both domestic and international markets, providing a wide range of pigment solutions for various industries. Its manufacturing facility situated at Palghar, Maharashtra is spread across approximately 1275 sq. meter and is equipped with various machines such as Ball Mill Machine, Root Blower, Silo, Reaction Steel Vessel, Brick Lined Vessel, Rubber Lined Vessel, Drowning Vessel etc.,
The company’s products are manufactured from raw materials such as BM CPC, Caustic Soda Flakes, Gum Rosin, Hydrochloric Acid, Mix Xylene, Additive Monosulphonaled CPC Blue and Unisol SI-20 etc.Its revenue from manufacturing business for fiscal 2024, fiscal 2023 and fiscal 2022 were Rs 66.52 crore, Rs 74.55 crore and Rs 84.87 crore which contributed 46.24%, 53.48 %, and 58.42% of revenue from operations effectively.Hem Securities acted as the lead manager to the issue and Link Intime India was the registrar.
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