Dorf-Ketal Chemicals files DRHP with SEBI for ₹5,000 crore IPO-OxBig News Network

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Dorf-Ketal Chemicals India Limited, a Research & Development and innovation-focussed global manufacturer and supplier of specialty chemicals, having 16 factories in four countries, has filed its Draft Red Herring Prospectus (DRHP) with Securities and Exchange Board of India (SEBI) for a ₹5,000 crore Initial Public Offering (IPO).

The company’s products cater to the hydrocarbons and industrial supply chains, including the oil and gas, refining and petrochemicals industries, and customers with diverse applications across industrial segments,

The company’s customers include Reliance Industries, Petronas, Indian Oil Corporation, PPG Industries, Clariant, Liberty Energy, Italiana Petroli, and Vedanta.

The IPO comprises a fresh issue of equity shares of face value of ₹5 each aggregating up to ₹1,500 crore and an offer for sale of equity shares of face value of ₹5 each aggregating up to ₹3,500 crore by Menon Family Holdings Trust (Promoter Selling Shareholder).

Established in 1992, Dorf-Ketal Chemicals India is one of the major producers in the development, commercialisation and application of specialty chemicals in India. The company offers products across two categories — specialty chemicals for hydrocarbons and industrial specialty chemicals.

Of the company’s 16 manufacturing facilities, eight are in India, two in Brazil, three in the United States and three in Canada. The manufacturing facility in Mundra, Gujarat, is the largest facility, with an installed production capacity of 98,900 MTPA.

From FY22 to FY24, the revenue from operations grew at a CAGR of 45.47% to ₹5,479.5 crore, EBITDA grew at a CAGR of 60.54% to ₹950 crore and the restated profit after tax for the year was ₹602 crore.