S H Kelkar & Company IPO to open on 28 October 2015

Fresh issue of shares upto Rs 210 crore

S H Kelkar & Company is coming up with an initial public offer (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 issue opens on 28 October 2015 and closes on 30 October 2015. The company is yet to announce the price band for the IPO.

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 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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