Advent International-backed Manjushree Technopack, has received greenlight from the market regulator SEBI to raise Rs 3,000 crore through an intial public offering.
The company submitted its IPO documents to SEBI on August 20, 2024.
Details of the IPO
The public issue, with a face value of Rs 2 per equity shares, comprises a fresh issue of up to Rs 750 crore and an offer for sale of up to Rs 2,250 crore by AI Lenarco Midco Limited.
Furthermore, coming to the reserved portion, the offering will have includes a portion for eligible employees which will be reserved.
Utilisation of the Fund
Proceeds from the fresh issue, amounting to Rs 500 crore, will be allocated for the repayment/prepayment of borrowings, funding acquisitions and strategic initiatives, and general corporate purposes.
Image used for representational purposes only The book-running lead managers to the public issue include JM Financial Limited, Avendus Capital Private Limited, Citigroup Global Markets India Private Limited, Global Sachs (India) Securities Private Limited and ICICI Securities Limited.
The registrar to the offer will be KFin Technologies Limited.
About the company
The company was founded in 1987 and provides packaging solutions ranging from design to delivery. It also offers a wide range of products including containers, preforms, caps, closures, pumps, and dispensers, along with in-house recycling capabilities.
As per the Technopak Report mentioned in the DRHP, the company's revenue from the operation between the fiscal year 2022 and 2024 grew at a CAGR of 20.13 per cent from Rs 1,467.05 crore to Rs 2,117 crore.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investing in IPOs involves risks and potential volatility. Readers are advised to conduct their own research and consult a financial advisor before making investment decisions. The author and publisher are not responsible for any financial losses incurred by readers.
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