SK Minerals & Additives Files Draft Papers for IPO with BSE SME

Ludhiana-based SK Minerals & Additives has filed draft papers with the BSE SME platform to raise funds through an Initial Public Offering (IPO). The IPO comprises a fresh issue of up to 32.4 lakh equity shares with a face value of ₹10 each. The company filed its Draft Red Herring Prospectus (DRHP) on April 28, 2025. The shares are proposed to be listed on the BSE SME exchange.

Use of Proceeds

• ₹310 million towards working capital
• ₹55.54 million for capital expenditure, including the purchase of plant and machinery
• The remaining amount will be used for general corporate purposes

Company Background

Incorporated in February 2022, SK Minerals & Additives is involved in the manufacturing, processing, and supply of speciality chemicals and industrial minerals. The company works with materials like bentonite, talc, dolomite, barite, and kaolin. It operates through a combination of in-house production, imports, and domestic trading.

Product Applications

The company’s products are used in industries such as food and bakery, animal feed, petroleum, plywood, ceramics, plastics, rubber, agriculture, and oil drilling. It also has a research and development pipeline focused on specialised chemical products.

Financials

In the first seven months of FY25, ending October 31, 2024, the company reported ₹113.92 crore in revenue from operations and a net profit of ₹5 crore. For the full FY24, the company reported ₹108.76 crore in revenue and ₹3.09 crore in net profit.

Read More: Upcoming IPO in 2025

Shareholding and Structure

• Pre-issue shareholding: 90,00,000 shares
• Post-issue shareholding: 1,22,40,000 shares
• Market maker portion: 1,62,000 shares

The promoters are Sunita Rani, Mohit Jindal, Rohit Jindal, and Shubham Jindal.

Lead Manager and Registrar

Khambatta Securities Limited is the book-running lead manager. Maashitla Securities Private Limited is the registrar to the issue.

Conclusion

This IPO presents an opportunity for the company the expand its operations within the speciality chemicals and industrial minerals sector. The proposed listing on the BSE SME exchange marks a significant step in the company’s growth trajectory, supported by experienced lead managers and registrars.

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