 "Anya Polytech & Fertilizers hits capital market to raise Rs 45 cr via IPO")
Anya Polytech & Fertilizers Ltd on Thursday hit the capital market to raise around Rs 45 crore through its Initial Public Offering (IPO).
The company manufactures HDPE & PP bags, zinc sulphate fertilizers and micronutrient mixtures for agricultural needs.
The company is targeting to raise Rs 44.80 crore through its IPO. The shares will be listed on the NSE Emerge platform. The issue size is 3,20,00,000 equity shares with a price band of Rs 13-14 per share.
The net proceeds from the IPO will be utilised to meet the capital expenditure towards purchase of plant & machinery and working capital requirement.
That apart, the funds will also be used for setting-up a new project in Yara Green Energy Private Ltd, a subsidiary company.
A part of the proceeds will be used for meeting working capital and capital expenditure in Arawali Phosphate Limited, a subsidiary company.
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The issue will close on December 30, 2024.
Yashpal Singh Yadav, Managing Director of Anya Polytech & Fertilizers, said, The funds raised through this IPO will be strategically utilized to expand our product portfolio, acquire advanced plant and machinery, and meet working capital requirements." "This endeavour will not only fuel our business expansion but also enhance operational efficiency, driving sustainable growth and creating substantial long-term value," he said.
Beeline Capital Advisors Pvt Ltd is the Book Running Lead Manager to the Issue, while Skyline Financial Services Pvt Ltd is the Registrar to the Issue.
In 2023-24, the company achieved a revenue of Rs 123.41 crore.
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