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Safex Chemicals files ₹450 crore IPO

Coffee Crew  | Jul 8, 2025

Safex Chemicals files ₹450 crore IPO

Safex Chemicals, a speciality chemicals company filed its DRHP with the SEBI with an aim to raise ₹450 crore for debt reduction.  

The deets: the issue includes a fresh share issue and an offer for sale (OFS) of up to 35.73 million equity shares. The company may also raise ₹90 crore via a pre-IPO placement.

Axis Capital, JM Financial, and SBI Capital Markets are managing the offer, while KFin Tech is the registrar.

The why: Out of the fresh proceeds, ₹255.59 crore will go towards debt repayment, and ₹110 crore will be used to pare debt of its subsidiary, Shogun Organics. The rest will be used for general corporate purposes.

Zoom out: Speciality chemicals are high-performance ingredients used in everything from agriculture and pharma to paints, electronics, and textiles. Unlike bulk chemicals, they’re tailored for specific end uses and often command higher margins. 

India’s speciality chemicals sector is worth over $40 billion and is growing at a steady 10–12% annually. The industry benefits from rising domestic consumption, export demand, and global companies looking to diversify away from China. 

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