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RSPL mulls IPO next fiscal

Vishnu Pandey  |  New Delhi/ Kanpur 

Kanpur-based business conglomerate Rohit Surfactants Private Limited (RSPL) is planning to launch an Initial Public Offer (IPO) in the next fiscal year. The group has commercial interests in surfactants, leatherwear and wind energy generation.

The company is planning to engage a number of investment bankers for the public issue, whereby it will evaluate the amount of capital expected from the proposal apart from the draft proposal to be submitted to Securities and Exchange Board of India (SEBI).

“Once the draft prospectus is ready, hopefully by end of this fiscal year, we will file it with the SEBI and float the issue when the situation seems opportune in consultation with our bankers,” RSPL corporate affairs president, S.K. Bajpai told Business Standard.

The group seemed to be readying for the plan as it has recently merged its various entities like Kanpur Trading Company (KTC), Ghari Detergents Private Limited and Kolkata Detergents among others under the flagship of RSPL to save double taxation and build a stronger, integrated brand presence.

“We aimed at reducing the administrative hurdles and expenses by merging these entities apart from offering a more appealing bid for our prospective investors,” Bajpai added.

The company has recently relaunched its toilet soap and a premium category washing powder, apart from planning to foray into homecare products like shampoos, toiler cleaners and shaving creams.

First Published: Wed, November 04 2009. 00:25 IST