S H Kelkar and Company raises Rs 152.45 crore from anchor investors

Shares allotted to anchor investors at the top end of the price band for the IPO

S H Kelkar and Company has raised Rs 152.45 crore by selling 84.69 lakh shares to a total of 13 anchor investors ahead of the company's initial public offer (IPO). The shares will be allotted to the anchor investors at Rs 180 per share, the top end of the Rs 173-Rs 180 per share price band for the IPO.

Among anchor investors, Smallcap World Fund, Inc will be allocated a total of 18.74 lakh shares and T. Rowe Price International Discovery Fund will be allocated a total of 15.55 lakh shares. Motilal Oswal MOST Focused Midcap 30 Fund will be allocated a total of 6.89 lakh. American Funds Insurance Series Global Small Capitalisation Fund will be allocated a total of 6.48 lakh shares. Axis Mutual Fund will be allocated a total of 5.55 lakh shares.

The IPO opens for bidding today, 28 October 2015. The IPO closes on 30 October 2015. The company is coming up with an IPO consisting of a fresh issue of equity shares aggregating up to Rs 210 crore and an offer for sale (OFS) of upto 1.31 crore equity shares by Blackstone Capital Partners (Singapore) VI FDI Two Pte. Ltd, up to 86,575 equity shares by Blackstone Family Investment Partnership (Singapore) VI-ESC FDI Two Pte. Ltd. and up to 33.37 lakh equity shares by Prabha Ramesh Vaze.

The company intends to utilise Rs 126 crore from the net proceeds of the fresh issue towards repayment/pre-payment in full or in part of certain loans availed by the company. The company also plans to utilise about Rs 32 crore towards investment in K.V. Arochem Private Limited (KVA), the company's wholly owned subsidiary for repayment/pre-payment in full or in part of certain loans availed by KVA and other proceeds for general corporate purposes.

S H Kelkar & Company reported a consolidated net profit of Rs 20.66 crore on total revenue of Rs 223.97 crore in the quarter ended 30 June 2015. The company's consolidated net profit declined 18.61% to Rs 64.38 crore on 11.85% growth in total revenue to Rs 860.33 crore in the year ended 31 March 2015 (FY 2015) over the year ended 31 March 2014 (FY 2014).

S H Kelkar & Company along with its subsidiaries is engaged in the manufacture, supply and exports of fragrances (including aroma ingredients) and flavours.

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