Galaxy Surfactants files papers for IPO

Mumbai:Surfactants and specialty ingredients manufacturer, Galaxy Surfactants has filed its draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India for an initial public offer (IPO) to raise about Rs 1,000 crore.

Existing shareholders will sell nearly 63,31,674 shares of the company in the IPO, according to the DRHP.

“The objects of the offer are to achieve the benefits of listing the equity shares on the stock exchanges and the sale of equity shares by the selling shareholders” according to the prospectus.

Galaxy Surfactants’ products find application in a host of consumercentric personal care and home care products, including skin care, oral care, hair care, cosmetics, toiletries and detergent products.