- Fairfax India (FIH.U) holding Chemplast Sanmar has filed a prospectus for a proposed initial public offering
- Chemplast Sanmar is an Indian specialty chemicals manufacturer
- It filed the draft red herring prospectus with the Securities and Exchange Board of India
- Chemplast may raise up to US$472 million from issuing new equity shares of up to US$202 million
- Fairfax India currently owns 398,853 shares of parent Sanmar Chemicals Group, representing a 42.9 per cent interest on a fully-diluted basis
- Fairfax India is an investment holding company focused on equity securities and debt instruments in India
- Fairfax India Holdings (FIH.U) is up 1.41 per cent, trading at C$12.24 per share as of 3 pm ET
Fairfax India (FIH.U) holding Chemplast Sanmar has filed a prospectus for a proposed initial public offering.
Chemplast Sanmar, a subsidiary of Sanmar Chemicals Group, filed the draft red herring prospectus with the Securities and Exchange Board of India.
Pursuant to the IPO, Chemplast may raise up to INR$35 billion (approximately US$472 million) from issuing new equity shares of up to INR$15 billion (US$202 million).
The Sanmar Group’s secondary sale of Chemplast shares may aggregate up to INR$20 billion (US$270 million).
Chemplast Sanmar is an Indian specialty chemicals manufacturer with a focus on paste PVC resin and custom manufacturing of starting materials and intermediates for the pharmaceutical, agro-chemical and fine chemical sectors.
Chemplast also wholly-owns Chemplast Cuddalore Vinyls, India’s second-largest manufacturer of suspension PVC resin.
Fairfax India currently owns 398,853 shares of Sanmar Chemicals Group, representing a 42.9 per cent interest on a fully-diluted basis.
Fairfax India is an investment holding company focused on equity securities and debt instruments in India.
Fairfax India Holdings (FIH.U) is up 1.41 per cent, trading at C$12.24 per share as of 3 pm ET.