Chemical importing and distribution company Ujin Pharma has taken a key step toward entering the capital markets by filing its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The proposed issue places the company under investor radar as it looks to raise fresh capital alongside a promoter stake sale.
The IPO comprises a combination of a fresh issue of 11,869,100 equity shares and an offer for sale (OFS) of 7,282,300 shares by promoters Umang Ketan Mehta and Jinesh Rasiklal Sheth, as outlined in the filing.
As per the DRHP, the issue will be allocated across investor categories, with 50% reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.
The company aims to list its shares on both the National Stock Exchange (NSE) and BSE, with Marwadi Chandarana Intermediaries Brokers and SMC Capitals acting as book-running lead managers, while KFin Technologies will serve as the registrar.
Ujin Pharma has outlined a clear deployment plan for the net proceeds from the fresh issue. The funds will be used for investment in subsidiaries Altra Agro-Chem Pvt Ltd and Altra Pharma-Chem Pvt Ltd, along with repayment of certain borrowings.
A portion of the proceeds will also be allocated toward general corporate purposes, supporting working capital and operational requirements as the company scales its business.
Ujin Pharma operates in the distribution and supply of speciality chemicals, solvents, acids, monomers, pharmaceutical raw materials, and nutraceuticals. With over two decades of experience, the company has built sourcing relationships with both domestic and international suppliers.
Its product portfolio caters to diverse sectors including agrochemicals, pharmaceuticals, petrochemicals, specialty chemicals, automotive, paints and coatings, printing inks, and packaging industries, reflecting a broad industrial footprint.
The IPO filing marks a significant milestone for Ujin Pharma as it seeks to tap capital markets for expansion and balance sheet strengthening. With exposure to multiple end-use industries and a diversified product base, the company’s listing will be closely watched by investors tracking India’s growing specialty chemicals and pharma supply chain ecosystem.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jun 23, 2026, 4:30 PM IST
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