New Delhi, Nov 14 (PTI) Speciality chemicals manufacturerGalaxy Surfactants has filed draft papers with marketsregulator to raise an estimated Rs 1,000 crore through aninitial public offer.
During the initial share sale, as many as 307shareholders will sell 63,31,674 shares of the company,according to the draft red herring prospectus (DRHP )filedwith Sebi.
According to merchant banking sources, the initial publicoffer (IPO) is expected to fetch Rs 1,000 crore.
"The objects of the offer are to achieve the benefits oflisting the equity shares on the stock exchanges and thesale of equity shares by the selling shareholders.
"Further, our company expects that listing of the equityshares will enhance its visibility and brand image and provideliquidity to its existing shareholders," the draft papersstated.
ICICI Securities, Edelweiss Financial Services and JMFinancial Institutional Securities will manage the company'spublic issue. The company's equity shares are proposed to belisted on the BSE and the NSE.
This is the company's second attempt to go public.
Earlier in 2011, Galaxy Surfactants had entered the capitalmarkets to raise over Rs 200 crore through an initial sharesale. However, it withdrew from the IPO market due to tepidresponse from investors. PTI SPARD.
This is unedited, unformatted feed from the Press Trust of India wire.