Last Updated on January 25, 2025 by IPO Manthan Team
Dorf Ketal Chemicals has officially filed draft papers with SEBI to raise ₹5,000 crore through an initial public offering (IPO). The offering includes a fresh equity issue worth ₹1,500 crore and an offer-for-sale of ₹3,500 crore by the Menon Family Holdings Trust, the company’s primary shareholder.
The funds raised from the IPO will be strategically allocated to improve the company’s financial health. Of the fresh issue, ₹1,162 crore will be used to repay debts incurred by Dorf Ketal Chemicals and its subsidiary, Dorf Ketal Chemicals FZE. The remaining amount will support general corporate purposes.
The company has demonstrated strong financial performance in recent years. For fiscal year 2024, Dorf Ketal Chemicals reported a 33.4% increase in profit, reaching ₹602 crore. Revenue also saw significant growth, rising by 41.7% to ₹5,479.5 crore. However, as of October 2024, the company’s outstanding borrowings stood at ₹3,540.8 crore.
Established in 1992, Dorf Ketal Chemicals has built a strong reputation in the specialty chemicals industry. The company operates 16 manufacturing facilities across four countries, with eight located in India. Its products primarily cater to the hydrocarbons sector and other industrial applications. Clients include major corporations like Reliance Industries and Indian Oil Corporation.
The IPO comes amid a surge of companies going public in India. In 2025 alone, 14 companies have already launched IPOs, following a record-breaking year of fundraising in 2024. Dorf Ketal Chemicals has partnered with leading merchant bankers to facilitate the process.
By filing draft papers, Dorf Ketal Chemicals is positioning itself to capitalize on market opportunities while addressing its financial needs. The IPO proceeds will help the company reduce debt, improve operational efficiency, and prepare for future growth.
The move also reflects confidence in the company’s market potential and solid industry standing. With robust financial growth and a strong client base, Dorf Ketal Chemicals is set to attract significant attention from investors.
Dorf Ketal Chemicals files draft papers for its ₹5,000-crore IPO is a milestone for the company. This strategic step will not only improve its financial position but also strengthen its competitive edge in the specialty chemicals sector. Investors are eagerly watching as the IPO process progresses.