Mumbai-based Jesons Industries refiles DRHP with Sebi for IPO
Live MintMumbai-based Jesons Industries has refiled its draft red herring prospectus with the market regulator Securities and Exchange Board of India to raise funds through an Initial Public Offering. The IPO, with a face value of ₹5 per share, comprises a fresh issue worth up to ₹300 crore and an offer for sale of 9.46 million equity shares by Dhiresh Shashikant Gosalia. Proceeds from the fresh issuance of shares will be used to extent of ₹165 crore will be used for repayment/prepayment, in full or in part, of certain outstanding borrowings availed by the Company and/or its Subsidiaries, ₹77.90 crore for funding of capital expenditure through investment in its wholly owned subsidiary, Jesons Innovative Polymers Private Limited, for setting up of machine lines for the new adhesives project – solvent based adhesives and flexible packaging adhesives, and general corporate purposes. Motilal Oswal Investment Advisors Limited, and IIFL Capital Services Limited are the book running lead managers to the issue, while MUFG Intime will be the registrar.