Shakun Polymers files IPO papers with SEBI

Shakun Polymers, one of the leading companies in the field of compounding for the wire & cable market, has filed its draft red herring prospectus (DRHP) with market regulator SEBI for the proposed I PO. The public offer comprises of fresh issue of equity shares aggregating up to Rs 75 crore and an offer for sale of up to 18 lakh equity shares by selling shareholders. The company proposes to utilise the net proceeds from fresh issue towards setting up of new unit for manufacturing Halogen Free Flame Retardant (HFFR) compounds and general corporate purpose. Vadodara-headquartered Shakun has two manufacturing facilities at Halol district in Gujarat and one at Daman, having an aggregate installed capacity of over 25,000 MT per annum. It is one of the first movers in India for manufacturing of HFFR compounds and one of the leading exporters for HFFR compounds from India.