Hindcon Chemicals plans to issue 27.60 lakh equity shares to raise Rs7.73 crore from the market. Photo: Hemant Mishra/Mint
Kolkata: Hindcon Chemicals would come out with an initial public offer (IPO) for getting listed on the NSE Emerge platform by issuing 27.60 lakh equity shares to raise Rs7.73 crore from the market, the company said on Friday.
The shares, which would be open for offer from 26 February, would get listed on the small and medium enterprises (SME) exchange of the National Stock Exchange. Managing director of Hindcon Chemicals Sanjay Goenka said that the company is engaged in the manufacturing of wide range of chemical products for the construction industry.
In 2016-17 fiscal, Hindcon earned a revenue of Rs34 crore and a net profit of Rs2.05 crore, he said. In the first half of current fiscal, the company’s net profit was Rs2.18 crore.
