Mumbai (Maharashtra) [India], July 19 (ANI/PNN): Mumbai-based Mitsu Chem Plast Ltd has filed the draft red herring prospectus for proposed further public offering ("FPO") with SEBI. The Further Public Offering of equity shares (to be finalised at the time of allotment) of Rs. 10 each for cash at a price to be decided at the time of issue at a premium aggregating up to 12,500 lakhs is proposed to be brought for repayment/pre-payment, in full or part, of certain borrowings availed by Company, funding working capital requirements and general corporate purposes. The book running lead manager to the said FPO is IDBI Capital Markets and Securities Ltd.
Mitsu Chem Plast Ltd is a Mumbai-based packaging solutions provider engaged in the business of manufacturing polymer-based moulded products mainly used for industrial packaging for industries like chemicals, agrochemicals, pharmaceuticals, lubricants, food and edible oil. It also manufactures polymer-based moulded hospital furniture parts which are supplied to hospital furniture manufacturing companies. It also caters to polymer-based product requirements of various other industries including automobile and infrastructure. It uses blow moulding and injection moulding technologies for manufacturing its products. The company got listed on the SME platform of BSE Ltd. In the year 2016 and migrated to the Mainboard of BSE Ltd. in the year 2020.
The Company's revenue from operations for FY 2022, FY 2021 and FY 2020 has been Rs 25,771.71 lakhs, Rs 17,833.25 lakhs and Rs 13,854.83 lakhs, respectively and the net profits for the corresponding years were Rs 1,149.99 lakhs, Rs 968.80 lakhs and Rs 397.51 lakhs. The three years EPS stood at Rs 9.53, Rs 8.02 and Rs 3.29, respectively.
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