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Business EconomyPosted at: Jan 28 2025 3:36PM


Dorf-Ketal Chemicals India files DRHP for Rs 5000 crore IPO

Hyderabad, Jan 28 (UNI) Dorf-Ketal Chemicals India Limited, an R&D and innovation-focused global manufacturer and supplier of specialty chemicals across the hydrocarbons and industrial supply chains filed its Draft Red Herring Prospectus (DRHP) with the capital markets regulator Securities and Exchange Board of India (SEBI) to raise Rs 5,000 crore via an Initial Public Officer (IPO).
The IPO comprises a fresh issue of equity shares of the face value of ₹5 each aggregating up to ₹ 1500 Crores and an offer for sale of equity shares of the face value of ₹5 each aggregating up to ₹ 3500 Crores, the company said in a release here on Tuesday.
The offer for sale comprises equity shares of face value of ₹5 each aggregating up to ₹ 3500 Crores by Menon Family Holdings Trust (Promoter Selling Shareholder)
The company offers products across two categories - specialty chemicals for hydrocarbons and industrial specialty chemicals. The specialty chemicals for hydrocarbons category includes oil field, refinery chemicals and petrochemicals, fuel additives, and modified acids as key sub-categories and the industrial specialty chemicals category includes organometallic titanates and zirconates, polyvinyl formamide (“PVF”), OBA and lubricant additives as key sub-categories.
As of October 31, 2024, the marquee customer base included Reliance Industries, Petronas, Indian Oil Corporation, PPG Industries, Clariant, Liberty Energy, Italiana Petroli, and Vedanta.
During the six months ended September 30, 2024, the company had 1,322 customers.
As of October 31, 2024, the company has 16 manufacturing facilities across four countries, including eight in India, two in Brazil, three in the United States, and three in Canada.
The company's eight manufacturing facilities in India have a cumulative installed capacity of 147,770 MTPA. In contrast, the manufacturing facilities in Brazil, the United States, and Canada have a cumulative installed capacity of 194,770 MTPA, as of September 30, 2024.
The manufacturing facility in Mundra, Gujarat is the largest facility, with an installed production capacity of 98,900 MTPA. It is also one of the world’s largest manufacturing facilities of organometallic titanates.
With 542 patent registrations outside India, including 99 U.S. patent registrations, and 29 in India, the company is one of the few India-based chemical companies with global brand recognition.
The company has a strong track record of acquiring and integrating businesses driving expansion of the offerings and geographic footprint.
From FY22 to FY24, the revenue from operations grew at a CAGR of 45.47 percent to INR 54,795 million and the restated profit after tax for the year grew at a CAGR for the Period/Year of 50.18 percent to INR 6,020 million.
JM Financial Limited, Citigroup Global Markets India Private Limited, HSBC Securities and Capital Markets (India) Private Limited, J.P. Morgan India Private Limited, Morgan Stanley India Company Private Limited, and Motilal Oswal Investment Advisors Limited are the Book Running Lead Managers to the issue.
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Tags: #Dorf-Ketal Chemicals India files DRHP for Rs 5000 crore IPO
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