Theranautilus Secures $1.2 Mn in Seed...
19 Nov 2024
Manjushree Technopack Limited has filed draft papers with the Securities and Exchange Board of India (SEBI) to raise ₹3,000 crore through its initial public offering (IPO). The proposed IPO will consist of a fresh issue of ₹750 crore and an offer for sale (OFS) of ₹2,250 crore, primarily involving the sale of shares by Advent International, which currently holds a 97.54% stake in the company.
The funds raised from the IPO will be allocated for various purposes, including repaying ₹500 crore of debt and funding inorganic growth through acquisitions and other strategic initiatives. Additionally, the company may consider a pre-IPO placement of up to ₹150 crore, which could reduce the size of the fresh issue.
Founded in 1987, Manjushree Technopack is recognized as a comprehensive packaging solutions provider, offering a range of products such as containers, preforms, caps, closures, and pumps. The company is also noted for its in-house recycling capabilities, positioning it as a key player in the packaging industry.
The IPO will be managed by a consortium of book-running lead managers, including JM Financial, Avendus Capital, Citigroup Global Markets, and ICICI Securities, with KFin Technologies serving as the registrar for the offering.
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