Safex Chemical substances (India) Ltd. filed its preliminary papers with the Securities and Change Board of India to boost no less than Rs 450 crore through recent subject of shares by way of an preliminary public providing.

The general public provide can even embrace an offer-for-sale element. Surinder Kumar Chaudhary, Rajesh Kumar Jindal, Neeraj Kumar Jindal, and Piyush Jindal are promoter promoting shareholders, who’re offloading a cumulative stake of practically 29 lakh shares.

Different traders seeking to offload stake embrace Sarcoline Ltd., Anchor Companions, and Sage Funding Belief. The fairness shares are proposed to be listed on the Nationwide Inventory Change of India and BSE.

The corporate goals to utilise the proceeds from the recent subject of shares in the direction of reimbursement of borrowings availed by them in addition to subsidiary Shogun Organics Ltd.

JM Monetary Ltd., Axis Capital Ltd., and SBI Capital Markets Ltd. are the book-running lead managers for the difficulty and KFin Applied sciences Ltd. would be the registrar of the difficulty.