Mehul Colours sets SME IPO price band at Rs 68-72/share; issue to open on Wednesday

New Delhi, Jul 29 (PTI) Mehul Colours & Masterbatches, a customised and specialised masterbatch manufacturer, on Tuesday said it has fixed a price band at Rs 68-72 per share for the Rs 22-crore IPO, which will hit the capital markets on July 30.

The initial public offering (IPO) will conclude on August 1 and the company's shares will be listed on the BSE SME's platform, the company said in a statement.

The initial share sale is entirely a fresh issuance of 30.08 lakh equity shares.

The net proceeds from the IPO will be utilised towards capital expenditure for setting up a new manufacturing facility, working capital requirements, and for general corporate purposes.

"The capital raised will be instrumental in enhancing our R&D capabilities, expanding production infrastructure, and accelerating product innovation. Our focus is on building advanced, sustainable, and customer-specific masterbatch solutions that align with the evolving needs of the plastic processing ecosystem.

"We believe this IPO will empower us to scale operations, deepen our market presence, and reinforce our position as a leading player in the colour and additive masterbatch segment," Mehul Colours' MD Mehul Pravinchandra Joshi.

Mehul Colours is engaged in the manufacturing of masterbatches, concentrated mixtures of pigments and additives, which are used in the plastics industry to impart colour and enhance the functional properties of plastic products.

In FY25, the company supplied masterbatches to more than 500 customers spanning a broad array of industries, including stationery, plastic household products, plastic toys, agricultural tools, pipes and fittings, and various other plastic products.

Seren Capital is the sole book-running lead manager, and Bigshare Services is the registrar for the IPO. PTI HG TRB