Dorf-ketal Chemicals IPO Date, Review, Price and Key Information

Dorf -ketal Chemicals India Limited IPO is fully book build issue and total IPO size is ₹5000.00 crores. The offering includes a fresh issue worth ₹1500.00 crores and an offer for sale of ₹3500.00 crores.

The dates for the Dorf -ketal Chemicals India IPO have not been announced yet. The allotment process is expected to be finalized by [.].

The price band for the Dorf -ketal Chemicals India IPO has not been announced yet. The Dorf -ketal Chemicals India IPO is scheduled to list on BSE and NSE with a tentative listing date of [.].

Registrar for this IPO is MUFG Intime India Private Limited and lead managers for Dorf -ketal Chemicals India IPO are JM Financial, Citigroup Global Markets India, HSBC Securities and Capital Markets, J.P. Morgan India , Morgan Stanley India Company, Motilal Oswal Investment Advisors.

IPO Schedule

IPO Open Date	-
IPO Close Date	-
IPO Allotment Date	-
Refund Initiation	-
Share credit in Demat	-
Listing Date	-

Key Details

Price Band	TBA
Lot Size	TBA
Face Value	₹5 Per Equity Share
Total Issue Size	₹5,000.00 Crores
Fresh Issue	₹1,500.00 Crores
OFS Issue	₹3,500.00 Crores
Issue Type	Fresh Issue and Offer for Sale
Listing At	BSE & NSE

Share Reservation

Investor Category	Shares Offered
QIB	50%
Retail	35%
NII/HNI	15%

About Dorf-ketal Chemicals India Limited Company

Dorf Ketal is a global manufacturer and supplier of specialty chemicals across the hydrocarbons and industrial supply chains. Established in 1992, the company focuses on R&D and innovation, positioning itself as a key player in the development and commercialization of specialty chemicals. As of October 31, 2024, Dorf Ketal operates 16 manufacturing facilities across four countries, with a significant patent portfolio of 542 registrations outside India and 29 within India.

The company's offerings are divided into two main categories: Specialty Chemicals for Hydrocarbons and Industrial Specialty Chemicals. Key product segments include oilfield specialty chemicals, refinery chemicals and petrochemicals, fuel additives, modified acids, specialty chemicals for hydrocarbons, organometallic titanates and zirconates, PVF, optical brighteners and lubricant additives.

Dorf Ketal holds leading market positions in several segments, including organometallic titanates and zirconates, and specialty chemicals for hydrocarbons in India and Brazil. In the fuel additives market, dominated by players like BASF, Innospec, and LANXESS, Dorf Ketal holds the fourth rank in global market share. The global lubricant additives market, valued at USD 16 billion (₹ 132800 crore) in CY2023 and projected to reach USD 21.92 billion (₹ 181700 crore) by CY2028, sees Dorf Ketal as a component manufacturer catering to custom blend formulations. Major players like Lubrizol, Infineum, Chevron Oronite, and Afton Chemical control approximately 75% of the market share.

Dorf Ketal's upstream offerings cover the entire oil & gas lifecycle, including drilling, cementing, completions, stimulation, and production chemistries. Recent acquisitions like Fluid Energy, Clariant Land Oil NA, and Impact Fluid Solutions have expanded the company’s technology portfolio and market presence. The company competes with and supplies to major players like SLB, Halliburton, and Baker Hughes. Demand for Dorf Ketal's products is driven by increasing needs for performance-enhancing chemicals, green chemistries, and fuel-efficient solutions.

Dorf-ketal Chemicals India Limited Financial Details

Period Ended	30 Sep 2024	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	6875.21	5049.84	4143.49	2532.61
Revenue	2961.36	5479.54	3866.48	2589.54
Profit After Tax	231.64	601.97	451.10	265.97
Net Worth	2548.08	2573.02	2018.64	1542.22
Reserves and Surplus	2280.74	2263.94	1734.31	1272.21
Total Borrowing	3207.37	1533.60	1432.50	493.02

₹ In Crore

Key Performance Indicator

Basic EPS	Return on Net Worth	Net Asset Value	Debt-Equity Ratio	Return on Equity	Return on Capital Employed
11.56	23.53%	49.14	0.40	23.40%	19.33%

Offer Objectives

The company undertook several further issues and rights issues of equity shares between 1998 and 2021, with face values of ₹100. In January 2020, there were transfers of equity shares from Sudhir Menon to A.V. Menon, and then to Menon Family Holdings Trust, by way of gift. A bonus issue occurred on June 30, 2021. Subsequently, on September 6, 2024, each share with a face value of ₹100 was sub-divided into 20 shares with a face value of ₹5 each.

Pre-offer shareholding details reveal that Subodh Menon holds 984,000 shares, Sudhir Menon holds 1,933,060 shares, Menon Family Holdings Trust holds 483,760,200 shares, and Sudhir Menon (HUF) holds 5,852,000 shares. The offer includes a fresh issue of equity shares aggregating up to ₹1,500 crore and an offer for sale of equity shares by the promoter selling shareholder aggregating up to ₹3,500 crore.

The net proceeds from the fresh issue will be used for repayment/prepayment of outstanding borrowings of the Company and its subsidiary, Dorf Ketal Chemicals FZE, and for general corporate purposes. Approximately ₹829 crore is allocated for repayment of the Company's borrowings, and ₹333 crore is allocated for investment in Dorf Ketal Chemicals FZE for debt repayment. The remaining amount will be for general corporate purposes, not exceeding 25% of the gross proceeds.