Gujarat Polysol Chemicals Ltd. (GPCL), chemicals manufacturer for infra-tech (construction), agro, dyes and leather industries in India, has received final observations or approval from SEBI for its proposed Initial Public Offering (IPO). The company proposes to raise a fresh issue of Rs. 87 crore and an offer for sale of equity shares of Rs. 327 crore.

The company is among the leading suppliers of dispersing agents in the infra-tech, dye and pigments, and textile and leather industries and a leading supplier of powder surfactants in India. The company is also India’s leading manufacturer of poly carboxylate ether (PCE) liquid. They are one of the few manufacturers of PCE powder in the world, and the only manufacturer of PCE powder in India.

Of the Rs. 87 crore fresh issue, the company is planning to utilise the funds to retire debt and for general corporate purposes.

The company has 3 manufacturing facilities, located in Vapi and Sarigam in Gujarat and a unit located in the Union Territory of Dadra & Nagar Haveli and Daman and Diu and have an aggregate manufacturing capacity of 130,400 MT per annum across the 3 manufacturing facilities. Its manufacturing infrastructure is complemented by stringent quality and safety standards and processes. The quality of manufacturing facilities is evidenced by the certifications and accreditations such as the ISO standards (9001, 14001, 18001, and 31010) that the facilities have obtained.

With a reputed clientele of 600+ customers and enormous manufacturing capacity, Gujarat Polysol stands strong on the path of consistent growth with a turnover of more than INR 350 crores in FY21, achieved through sheer perseverance, rich knowledge capital, dedication for innovation, sustainable development and customer centric services. GPCL exports its various products to countries like Indonesia, Hong Kong, Singapore, South Korea, Germany, China, UAE, Bangladesh, Vietnam & Australia expanding its footprint globally.

With continuous innovation and research & development, the company manufactures some of the high-end items such as poly carboxylate ether which is one of the products being manufactured in India. Majority of the PCE is imported from South Korea & China in Indian chemical industries. The company has penetrated the market with best quality and comparative pricing.