Galaxy Surfactants Limited or GSL is incorporated in 1986. This company is mainly engaged in manufacturing of surfactants and other specialty ingredients for the personal care and home care industries. It is Mumbai, India based company. Galaxy Surfactants Limited is coming up with their initial public offering, that will be open to applying starting from 29th January 2018. This post will go deep into the draft red herring prospectus and will check the issue date, issue price, GMP etc. This post will also present the Galaxy Surfactants IPO Review for you.
About Galaxy Surfactants IPO :
- IPO Opens on – January 29,2018.
- IPO Closes on – January 31,2018.
- Face Value – Rs. 10 Per Equity Share.
- Issue Price – Rs. 1470 – Rs. 1480 Per Equity Share.
- Issue Type – Book Built Issue IPO.
- Market Lot – 10 shares.
- Minimum Order Quantity – 10 shares.
- Issue Size – 6,331,674 Equity Shares of Rs 10 aggregating up to Rs 937.09 Cr.
- Listing Exchange – BSE, NSE.
- Draft Prospectus – Click Here.
Objectives of the issue:
- To achieve the benefits of listing the Equity Shares on the Stock Exchanges.
- The sale of Equity Shares by the Selling Shareholders.
About The Company –
- Galaxy Surfactants Limited’s mainly ingredients manufacture are commonly used in consumer-centric personal care and home care products like skin care, oral care, hair care, cosmetics, toiletries and detergent products.
- The product portfolio of this company includes over 200 product grades, which are marketed to over 1,700 customers in 70 countries.
- This company’s products are classified in 2 categories. There are-
1. Performance Surfactants: This type of products includes anionic surfactants and non-ionic surfactants.
2. Speciality Care: This type of products includes amphoteric and cationic surfactants, UV filters, preservatives, preservative blends and surfactant blends, specialty ingredients such as mild surfactants, syndet and transparent bathing bars and proteins, fatty alkanolamides and fatty acid esters, and other care products.
- Galaxy Surfactants Limited has 7 manufacturing facilities, and over 1,200 employees.
Promoters of the company :
- Mr. Unnathan Shekhar, aged 63 years, is a Promoter and the Managing Director of this Company.
- Mr. Gopalkrishnan Ramakrishnan, aged 63 years, is a Promoter and a non Executive Director of this Company.
- Mr. Shashikant Shanbhag, aged 63 years, is a Promoter of this Company.
- Mr. Sudhir Dattaram Patil, aged 63 years, is a Promoter and a non-Executive Director of this Company.
Galaxy Surfactants IPO Review: The financial data states that the company has managed to increase their profitability in a spiral manner over the years. The business model is also attractive and the company has a steady client base. The issue price of Rs. 1470 – Rs. 1480 per equity share looks fully priced. Our Galaxy Surfactants IPO Review feels that investors can apply in this issue for long-term gains. While the grey market premium is already hovering at Rs. 425-450 indicating that this issue has won the confidence of the grey market. Hence, short-term gains and listing gains are also not ruled out. However, short-term players looking for listing gains must consider our last day IPO selection method before applying.