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19 Nov 2024
Xolopak India Limited has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to launch an initial public offering (IPO) aimed at raising up to ₹528.6 crore. The offering will consist entirely of a fresh issue of equity shares, with no offer for sale component.
The IPO will include up to 5,286,000 equity shares, each with a face value of ₹10. The final issue price and price band will be determined by the company in consultation with the book-running lead manager, based on market demand during the book-building process.
Proceeds from the IPO are intended to enhance the company's operational capabilities and support its growth initiatives. As this marks Xolopak's first public offering, the company aims to establish a market presence and attract investor interest.
Founded by promoters Shashank Mishra and Banani Chatterjee, Xolopak India specializes in manufacturing and providing innovative packaging solutions. The company is headquartered in Pune, Maharashtra, and is positioned to leverage the growing demand for sustainable packaging in various industries.
The IPO will be managed by a consortium of financial institutions, with further details about the offering expected to be disclosed closer to the launch date.
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