VAHH Chemicals SME IPO to open on Thursday

New Delhi, Jun 1 (PTI) VAHH Chemicals, a specialty chemicals company, on Monday said its Rs 13.4 crore initial public offering (IPO) will open for subscription on June 4.

The IPO will closes on June 8 and shares of the company will tentatively list on the BSE SME on June 11, the company said in a statement.

The Gujarat-based company’s proposed IPO is entirely a fresh issue of up to 22.42 lakh equity shares priced at Rs 60 per share.

Proceeds from the issue will be utilised by the company to fund its incremental working capital requirements, set up a new manufacturing facility in Surat, for repayment of debt and general corporate purposes.

“We also see significant opportunities for growth in our nutraceutical business under the Divine Nutrition brand

as we focus on expanding into international markets,” Hiren Indravadan Desai, CMD of VAHH Chemicals Ltd, said.

Incorporated in 2019, VAHH Chemicals is engaged in manufacturing, supplying and trading of textile auxiliary chemicals used across pre-treatment, dyeing, printing and finishing applications.

Marwadi Chandarana Intermediaries Brokers is the sole-book running lead manager for the IPO. PTI HG HG ANU ANU