Shakun Polymers Limited, (the “company” or “Shakun”) one of the leading players in the field of compounding for the Wire & Cable market, has filed their Draft Red Herring Prospectus (“DRHP”) with the market regulator SEBI, for the company’s proposed IPO. The Offer includes Fresh Issue of Equity Shares aggregating up to ₹750 million (“Fresh Issue”) and an “Offer for Sale” of up to 1,800,000 Equity Shares by the “Selling Shareholders”.
The company proposes to utilise the net proceeds from Fresh Issue towards setting up of new unit for manufacturing Halogen Free Flame Retardant (“HFFR”) compounds and general corporate purpose.
Shakun is ISO-9001 certified company which is headquartered in Vadodara and has two manufacturing facilities at Halol district in Gujarat and one at Daman, having an aggregate installed capacity of over 25,000 MT p.a.. Shakun is one of the first movers in India for manufacturing of HFFR compounds and one of the leading exporters for HFFR compounds from India.
In addition to having an established presence in India, Shakun has established its presence in various countries in Asia, Middle East, Africa and South America. The company exports over 50 percent of their products to international markets. Some of their domestic and international customers includes Polycab Wires Private Limited, KEI Industries Limited, KEC International Limited, RR Kabel Limited, Apar Industries Limited, Dubai Cable Company (Private) Limited, Alfanar Cables, Tekab Company Limited, Nuhas Oman LLC, Moghan Wire & Cable Co. and Abhar Wire & Cable Co..
The compounds manufactured by Shakun are used for insulation and sheathing of wire and cables for various applications such as: power cables, building wires, telecommunication & fibre optic cables, instrumentation cables and photovoltaic cables (i.e. solar cables).
Vivro Financial Services Private Limited is the book running lead manager (“BRLM”) to the Offer. Link Intime India Private Limited is the “Registrar” to the Offer.
The Equity Shares when offered through Red Herring Prospectus (“ RHP”), are proposed to be listed on BSE and NSE.