 "SH Kelkar's Rs 527-crore IPO to open on Oct 28")
SH Kelkar & Company’s Rs 527-crore initial public offering (IPO) will hit the market on October 28. The Mumbai-based fragrance manufacturer has priced its IPO in the range between Rs 173 and Rs 180 a share.
The company is looking to raise Rs 210 crore by issuing fresh shares to help retire all its debt. The remaining amount will go to existing shareholders, including Blackstone, who are paring their holdings in the company.
Blackstone, which invested in the company in 2012, is looking at offloading nearly 10 per cent stake for Rs 290 crore.
SH Kelkar manufacturers fragrance products and ingredients used in the pharmaceutical and fast-moving consumer goods sectors.
The company has four manufacturing facilities.
The IPO closes on October 30 and is being handled by JM Financial and Kotak Mahindra Capital.
The Rs 3,200-crore IPO of InterGlobe Aviation, which hits the market the same week, will remain open between October 26 and 28.
The company is looking to raise Rs 210 crore by issuing fresh shares to help retire all its debt. The remaining amount will go to existing shareholders, including Blackstone, who are paring their holdings in the company.
Blackstone, which invested in the company in 2012, is looking at offloading nearly 10 per cent stake for Rs 290 crore.
Also Read
Currently, the private equity (PE) firm has a 33.3 per cent stake in SH Kelkar.
SH Kelkar manufacturers fragrance products and ingredients used in the pharmaceutical and fast-moving consumer goods sectors.
The company has four manufacturing facilities.
The IPO closes on October 30 and is being handled by JM Financial and Kotak Mahindra Capital.
The Rs 3,200-crore IPO of InterGlobe Aviation, which hits the market the same week, will remain open between October 26 and 28.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%