Safex Chemicals (India) Ltd has filed preliminary papers with capital markets regulator SEBI to launch its initial public offering (IPO), comprising a fresh issue of shares worth ₹450 crore and an offer-for-sale (OFS) of up to 3.57 crore shares by promoters and investors.According to the draft red herring prospectus (DRHP), the proceeds from the fresh issue will be used to repay debt and for general corporate purposes.
Private equity firm ChrysCapital, which holds 44.8% of the company, will pare its stake through the OFS. ChrysCapital invested in the company in two tranches — in March 2021 and September 2022, a PTI report noted.
Safex may also consider a ₹90 crore pre-IPO placement, in which case the fresh issue size will be adjusted accordingly.
Incorporated in 1991, the Delhi-based company operates across branded formulations, speciality chemicals, and contract development and manufacturing (CDMO). It provides a broad range of crop protection products aimed at improving farm productivity.Safex has also expanded through a series of acquisitions, including Shogun Lifesciences and Shogun Organics in 2021, and UK-based Briar Chemicals in 2022. As of March 2025, it had a presence in 22 countries, with seven manufacturing units in India and one in the UK.
Private equity firm ChrysCapital, which holds 44.8% of the company, will pare its stake through the OFS. ChrysCapital invested in the company in two tranches — in March 2021 and September 2022, a PTI report noted.
Safex may also consider a ₹90 crore pre-IPO placement, in which case the fresh issue size will be adjusted accordingly.
Incorporated in 1991, the Delhi-based company operates across branded formulations, speciality chemicals, and contract development and manufacturing (CDMO). It provides a broad range of crop protection products aimed at improving farm productivity.Safex has also expanded through a series of acquisitions, including Shogun Lifesciences and Shogun Organics in 2021, and UK-based Briar Chemicals in 2022. As of March 2025, it had a presence in 22 countries, with seven manufacturing units in India and one in the UK.
The company reported a 12.8% rise in operating revenue to ₹1,584.8 crore in FY25 from ₹1,404.6 crore the previous year.
Axis Capital, JM Financial, and SBI Capital Markets are the book-running lead managers to the issue. The shares will be listed on the NSE and BSE.
(With PTI inputs)
(Edited by : Sheersh Kapoor)
