Gujarat Polysol, PKH Ventures get SEBI’s nod to launch IPOs

Gujarat Polysol
July 27, 2022

New Delhi Chemical manufacturer Gujarat Polysol Chemicals and construction and hospitality establishment PKH gambles have entered capital requests controller SEBI’s go ahead to raise finances through original public immolations( IPOs).

The two companies, which filed primary IPO papers with SEBI in March, attained” observation” letters from the controller during July 18- 22, an update with the requests watchdog showed on Monday.

In SEBI’s parlance, its observation implies its blessing to float IPOs.

Going by the draft papers, Gujarat Polysol Chemicals is looking to raise ₹ 414 crore through its original share trade.

The IPO comprises fresh issue of equity shares adding up to ₹ 87 crore and an offer- for- trade (OFS) of equity shares adding up to ₹ 327 crore by its promoters.

The company will use the net proceeds to retire debt and general commercial purposes.

As per the draft prospectus, the original share- trade of PKH gambles consists of fresh allocation of over18.2 million and an OFS of9.8 million equity shares by its protagonist.

Proceeds of the issue will be used to invest in accessories- Halaipani Hydro Project and Garuda Construction- funding long- term working capital conditions, for funding strategic accessions and investments, among others.


Gujarat Polysol

Gujarat Polysol Chemicals Limited is amongst the leading chemical manufacturers for the Infra-tech (Construction), agro, dyes and leather industries in India. We are also amongst the leading supplier of dispersing agents in the Infra-tech, dye and pigments, and textile and leather industries and a leading supplier of powder surfactants in India. We are amongst the leading manufacturers of poly carboxylate ether (PCE) liquid in India. We are one of the few manufacturers of PCE powder globally and the only manufacturer of PCE powder in India. The vast majority of products that we manufacture use the aromatic organic compounds viz., naphthalene, phenol (carbolic acid), acrylic acid and PEG as the base chemical.

We have been in the business of manufacturing diverse chemical products for over 3 decades and we believe that one of our strengths is that we have constantly augmented our product offerings. We manufacture customised products that are tailored to the requirements of our customers.

Our Company has 3 Manufacturing Facilities, located in Vapi and Sarigam in the State of Gujarat and a unit located in the Union Territory of Dadra & Nagar Haveli and Daman and Diu and we have an aggregate manufacturing capacity of 130,400 MT per annum across our 3 Manufacturing Facilities. Our manufacturing infrastructure is complemented by our stringent quality and safety standards and processes.

The quality of our Manufacturing Facilities is evidenced by the certifications and accreditations such as the ISO standards (9001, 14001, 18001, and 31010) that our facilities have obtained.

With a reputed clientele of 600+ customers and enormous manufacturing capacity, Gujarat Polysol stands strong on the path of consistent growth with a turnover of more than INR 350 Crores in FY21, achieved through sheer perseverance, rich knowledge capital, and dedication for innovation, sustainable development and customer centric services. GPCL exports its various products to countries like Indonesia, Hong Kong, Singapore, South Korea, Germany, China, UAE, Bangladesh, Vietnam & Australia expanding its footprint globally.

With continuous innovation and research & development we manufacture some of the high-end items such as Poly Carboxilate Ether which is one of the product being manufactured in India. Majority of the PCE is imported from South Korea & China in Indian chemical industries. We have penetrated the market with best quality and comparative pricing.

We have established long term relationships with various Swiss, US and German multinational and domestic companies including Ado Additive Technologies Limited, Agrosyn Impex, Master Builders Solutions India Private Limited, Molecules Conchem Private Limited, Normet India Private Limited, South India Cashew Corporation, Sulphur Mills Limited, Chryso India Private Limited, Ecmas Construction Chemicals Private Limited, Lonsen Kiri Chemical Industries Limited, Shivani Detergents Private Limited, Technochem Construction Chemicals Limited, and Sanghavi Industries Private Limited. Further, in the 6 month period ended September 30, 2021, and Fiscal 2021, Fiscal 2020 and Fiscal 2019, our top 10 customers across our business segments in the manufacturing space have contributed 49.18%, 47.73%, 53.29% and 56.82%, respectively, to our revenue from manufacturing operations.


PKH Ventures

Our company was established in the year 2000 by our dynamic and visionary chairman, Mr. Pravin Agarwal. Our journey started with providing varied services at various airports in India. We managed restaurants, bars, food stalls, lounges, parking spaces, ticket counters, etc at the airports. In a span of 18 years the company managed more than 15 airports in India. Due to reducing margins in the airport services business we decided to focus on setting up construction business, hotels and restaurants. We started with constructing our own hotels in Vasai (luxury hotel) & Andheri (boutique) and went on to execute multiple private and government construction projects from 2012 onwards.

Currently we have 2 hotels owned and run by us under the well-known brand name – Golden Chariot. We also manage and run Juvana Resort & Spa at the luxurious Aamby Valley City. We also manage and run restaurants under several brand names such as Balaji, Golden Chariot, Casablanca, Hardy’s Burger, Mumbai Salsa and Zebra Crossing to name a few which are located in well-known places such as Kidzania, Sahara Star Hotel, R-City Mall, etc. Our company is professionally managed. We have traditionally been a debt averse company. All our assets are built from internal accruals from past several years of a successful business journey.

We got our biggest construction project in the year 2016, to construct Delhi Police Head Quarters ad measuring more than 900,000 sq feet and also to do complete interiors. We finished the project in 2019 and handed over completely in April 2021. Through this time, we have successfully constructed more than 1.5 million square feet in various private and government projects making construction & development vertical as the main growth engine for our company in the present and future. Construction being our expertise we are also planning our own Residential and Commercial projects.