Galaxy Surfactants Limited Initial Public Offer Closes on 19th

Ahmedabad: Galaxy Surfactants Limited (the "Company"), one of the leading manufacturers and marketers of surfactants and specialty chemicals in India for the Personal and Home Care ("PHC") industry, is entering the Indian Capital Markets with its Initial Public Offer ("IPO" / "Issue") for 5,930,000 Equity Shares. The price band of the issue has been fixed from Rs. 325/- to Rs. 340/-. The Equity Shares of the Company are proposed to be listed on the Bombay Stock Exchange Limited and National Stock Exchange of India Limited.

The Issue would constitute 25.07% of the fully diluted post issue paid-up capital of the Company. The issue size will be Rs. 1927.2 mn at the lower band and Rs. 2016.2mn at the upper band. The company intends to utilize the net proceeds (Issue proceeds less Issue Expenses) of the IPO partly towards funding the capital expenditure of its step down subsidiary Galaxy Chemicals (Egypt) S.A.E, through investment in its subsidiary, Galaxy Holdings Mauritius Limited (GHML). The Company would also be funding the capital expenditure for setting up a new manufacturing facility at Jhagadia, Gujarat and towards expanding the capacities of its existing manufacturing units at Taloja and Tarapur. Motilal Oswal Investment Advisors Private Limited and Centrum Capital Limited are the Book Running Lead Managers to the Issue.