Mumbai: Galaxy Surfactants Limited (the “Company”) proposes to open on Monday, January 29, 2018, an initial public offering of up to 6,331,674 Equity Shares of face value of ₹ 10 each (“Equity Shares”) for cash (the “Offer”). The Offer consists of an Offer for Sale of up to 39,250 Equity Shares by the Promoter Selling Shareholder; up to 2,107,804 Equity Shares by the Promoter Group Selling Shareholders and up to 4,184,620 Equity Shares by the Other Selling Shareholders.
The Offer Period closes on Wednesday, January 31, 2018. The Anchor Investor Offer Period, shall be one Working Day prior to the Offer Opening Date, being, Thursday, January 25, 2018.
The Price Band for the Offer is fixed from ₹ 1,470 to ₹ 1,480 per Equity Share. Bids can be made for a minimum lot of 10 Equity Shares and in multiples of 10 Equity Shares thereafter.
The Equity Shares are being offered through the Red Herring Prospectus dated January 16, 2018 (the “RHP”) and are proposed to be listed on National Stock Exchange of India Limited (“NSE”) and BSE Limited (“BSE”). For the purposes of the Offer, the Designated Stock Exchange shall be NSE.
The Book Running Lead Managers (“BRLMs”) to the Offer are ICICI Securities Limited, Edelweiss Financial Services Limited and JM Financial Limited.
In terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended, and in accordance with Regulation 26(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (“SEBI Regulations”), this Offer is being made through the Book Building Process, wherein not more than 50% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (“QIB Category”), provided that the Company in consultation with the BRLMs may allocate up to 60% of the QIB Category to Anchor Investors on a discretionary basis (“Anchor Investor Category”). One-third of the Anchor Investor Category shall be reserved for domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the Anchor Investor Allocation Price. 5% of the QIB Category (excluding the Anchor Investor Category) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Category shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. Further, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI Regulations subject to valid Bids being received at or above the Offer Price. All potential Bidders, other than Anchor Investors, are mandatorily required to participate in the Offer through the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective bank account which will be blocked by the Self Certified Syndicate Banks (“SCSBs”). Anchor Investors are not permitted to participate in the Anchor Investor Category through the ASBA Process.
GALAXY SURFACTANTS LIMITED is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to undertake an initial public offering of its Equity Shares and has filed the RHP with RoC. The RHP is available on the website of SEBI at www.sebi.gov.in, NSE at www.nseindia.com, BSE at www.bseindia.com and the website of the BRLMs, i.e., at www.icicisecurities.com, www.edelweissfin.com and www.jmfl.com, respectively. Any potential investors should note that investment in equity shares involves a degree of risk and for details relating to the same, please refer to the RHP, including the section “Risk Factors” of the RHP. Potential investors should not rely on the DRHP filed with SEBI for making any investment decision.
The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (“Securities Act”) or any state securities laws in the United States, and unless so registered, and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in accordance with any applicable U.S. state securities laws. The Equity Shares are being offered and sold outside the United States in offshore transactions in reliance on Regulation S and the applicable laws of each jurisdictions where such offers and sales are made. There will be no public offering in the United States.
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