Tirupati Inks files DRHP for FPO

Tirupati Inks a Delhi Stock Exchange (DSE code: 19053) listed company, engaged in the business of manufacturing of printing ink and trading of polyester films and other packaging materials is planning to enter the capital markets with an follow on public offering of its equity shares of face value of Rs 10 each aggregating to Rs 515 million to be decided through 100% book building process. The company has filed a DRHP (draft red herring prospectus) with market regulator, the Securities and Exchange Board of India (SEBI) for the same.

50 per cent of the net issue is allocated on a proportionate basis to qualified institutional buyers, of which 5 per cent will be available to mutual fund. 35 per cent of the net issue is reserved for retail investors and the remaining 15 per cent is available to non-institutional bidders.  

The objects of the issue is to raise financial resources for setting up new facility for manufacturing of specialty Inks like digital inks, UV Inks, offset printing inks and ink concentrates to augment and support existing product range of the company which include rotogravuere inks and flexographic inks used in printing of flexible packaging material. In addition to this, the issue proceeds proposed to be used for company's inorganic growth plans by way of acquisitions and strategic investments.

The company has appointed Ashika Capital Ltd as the Book Running Lead Managers for the FPO. After the FPO, the Company proposes to list its stock on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). Tirupati Inks Ltd. is currently listed on Delhi Stock Exchange.

About Tirupati Inks Ltd:
Tirupati Inks is the upcoming leader in the formulation of state-of-the-art printing inks and coatings for the world wide graphics/printing and flexible packaging industries. Through the years of growth, Tirupati Inks has transformed itself into a multi-dimensional, multi- location company offering a comprehensive range of quality products, efficient customer service and a wide distribution network. In India, it is a marketing powerhouse with its branches, technical centers and distributors all over India. Throughout its history, Tirupati has earned the reputation of providing innovative, novel solutions to challenging inks and coating problems presented by the ever changing converting and printing industries.