Safex Chemicals (India) Limited Announces IPO
Safex Chemicals (India) Limited has announced its Draft Red Herring Prospectus (DRHP) for an upcoming IPO. This IPO is an Offer for Sale (OFS) and includes a fresh issue of 450 crore.
Company Overview
Safex Chemicals is a specialty chemicals company focusing on agrochemicals across the value chain. With over three decades of experience, Safex has grown organically and inorganically, now operating in 22 countries.
The company operates through three key business verticals: branded formulation, specialty chemicals, and contract development and manufacturing (CDMO).
Key Achievements
Safex Chemicals has demonstrated robust growth and notable achievements:
- Strong presence in India with 70.50% of revenue from domestic operations in Fiscal Year 2023.
- Wide distribution network with over 12,327 active dealers in Fiscal 2023.
- Specialty chemicals segment manufactures agrochemical active ingredients and household insecticides, including the patented mosquito repellent molecule “Renofluthrin”.
Financial Overview ( in Crores)
Below is the financial data for Safex Chemicals for the most recent fiscal year:
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 208.44 | 192.34 | 190.52 |
| Revenue | 158.48 | 140.46 | 116.10 |
| Profit After Tax | -14.29 | -22.79 | -1.02 |
| Net Worth | 67.25 | 67.39 | 68.09 |
| Reserves and Surplus | 65.65 | 65.78 | 66.48 |
| Total Borrowing | 83.04 | 67.71 | 68.02 |
Offer for Sale and IPO Structure
The IPO includes an Offer for Sale of up to 35,734,818 Equity Shares and a fresh issue.
- Retail Investors: 35%
- Non-Institutional Investors (NII): 15%
Lead Managers and Registrar
The lead managers for the Safex Chemicals IPO are Axis Capital Limited, JM Financial Limited, and SBI Capital Markets Limited.
The registrar is KFin Technologies Limited.
Conclusion
Safex Chemicals (India) Limited’s IPO presents an opportunity to invest in a growing specialty chemicals company. Stay tuned for updates on the IPO date and further details.