Shakun Polymers all set to launch IPO, files draft papers with Sebi

Shakun Polymers, wire and cable market, is planning to launch its initial public offering (IPO) and has filed draft papers with capital markets regulator Securities and Exchange Board of India (Sebi). The IPO comprises fresh issue of shares worth Rs 75 crore and an offer for sale of up to 18 lakh equity stocks by the existing shareholders, according to the draft papers filed with Sebi. 

Shakun is a leading player in the field of compounding for the wire and cable market. Established in 1991, Shakun has two manufacturing facilities at Halol district in Gujarat and one at Daman, having a total installed capacity of over 25,000 metric tonnes per annum.

The company plans to utilise the proceeds of the issue towards setting up of new unit for manufacturing Halogen Free Flame Retardant (HFFR) compounds and general corporate purpose.

Vivro Financial Services Pvt Ltd will manage the company's public issue and shares will be listed on BSE and NSE.