Mehul Colours IPO: Check GMP, price band, issue size and other details
initial public offering
today on the BSE SME platform, opening the subscription window for retail and institutional investors.
The IPO will close on August 1 and is entirely a fresh issue of 30.08 lakh equity shares. The price band has been fixed at Rs 68 to Rs 72 per share. The IPO has not drawn any grey market buzz, with the GMP hovering at zero.
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Founded in 1995, Mehul Colours is engaged in the manufacturing and export of masterbatches and pigments used in plastic, rubber, and elastomer industries.
The company's product offerings include white, black, coloured, and additive masterbatches, alongside organic and inorganic pigments. These additives enhance the visual appeal and functional characteristics of end-user plastic products—imparting UV resistance, anti-static behavior, flame retardancy, and durability.
Mehul Colours plans to utilize the proceeds from the IPO to set up a new manufacturing facility, fund working capital needs, and cover general corporate expenses. The new plant is expected to enhance production capabilities and expand product lines.
The minimum application size for retail investors is 3,200 shares, requiring an investment of Rs 2.30 lakh at the upper price band.
Seren Capital is the book-running lead manager, and Bigshare Services is the registrar. Asnani Stock Broker is serving as the market maker for the issue.
The allotment is likely to be finalized by August 4, and the shares are expected to debut on the BSE SME platform on August 6.
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