Ujin Pharma Files DRHP For IPO; Plans Fresh Issue And OFS

Ujin Pharma, a supplier of chemical products, has moved a step closer to the stock market after filing draft papers with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) comprising 1.91 crore equity shares.

The issue includes a fresh issue of 1.18 crore shares and an offer-for-sale (OFS) of 72.82 lakh shares by existing promoters. The Mumbai-based company plans to use a large part of the fresh issue proceeds to strengthen group businesses and pare debt.

The draft prospectus was filed with the market regulator on 22 June.

Where Will The Company Use The Funds?

The company has proposed investing ₹61.7 crore in Altra Agro-Chem and another ₹21.6 crore in Altra Pharma-Chem by subscribing to equity shares in the two firms. Once the investments are completed, both companies will become subsidiaries of Ujin Pharma.

Another ₹25 crore has been set aside for repayment of borrowings. The balance amount will go towards general corporate purposes.

A Chemical Supplier With A Wide Industry Presence

Ujin Pharma supplies products such as solvents, speciality chemicals, acids, monomers, nutraceuticals and pharmaceutical raw materials. Its customers operate across sectors including pharmaceuticals, agrochemicals, petrochemicals, automotive and industrial manufacturing.

The company services clients through storage and warehousing facilities located in Bhiwandi in Maharashtra and Kandla in Gujarat. Its sourcing network includes 1,277 suppliers.

Over the years, the company has also expanded beyond trading activities. Through subsidiary Shiv Shakti Oxalate, it operates a chemical processing facility in Pune that focuses on value-added manufacturing.

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Revenue Rose, Profit Slipped In FY25

For FY25, Ujin Pharma reported revenue of ₹1,628.8 crore, compared with ₹1,490.9 crore in the previous financial year, reflecting growth of 9.3%.

Profit, however, moved in the opposite direction. Net profit fell to ₹14.3 crore from ₹16 crore a year earlier, a decline of 10.7%.

SMC Capitals and Marwadi Chandarana Intermediaries Brokers have been appointed as the merchant bankers to the proposed public issue.

Source:

Moneycontrol