Royal Chain, Technopaints File IPO Papers With Sebi To Raise Combined ₹1,500 Crore

Two Indian companies, Royal Chain Ltd and Technopaints and Chemicals Ltd, have submitted preliminary documents to the Securities and Exchange Board of India (Sebi) to raise a combined ₹1,500 crore via initial public offerings (IPOs). Royal Chain aims to raise ₹1,000 crore through its initial public offering, while Technopaints and Chemicals intends to raise ₹500 crore.

Royal Chain, a vertically integrated, technology-driven original design manufacturer of gold chains and jewellery, plans to utilize the net proceeds from the fresh issue for repaying outstanding loan facilities and accrued interest, with the remainder earmarked for general corporate purposes. The company boasts over 27,000 designs and serves prominent retailers such as Titan Company and Kalyan Jewellers India. Its manufacturing facility is located in Mahape, Maharashtra.

Technopaints and Chemicals, on the other hand, plans to utilise the net proceeds from its IPO for capital expenditure, including the establishment of a greenfield paints manufacturing and innovation facility. The company's product portfolio includes paints and coatings like emulsions, primers, enamels, putties, textures, and speciality coatings.

With a presence across Southern India, Technopaints has expanded its operations to 10 states and Union Territories, and recently appointed Sachin Tendulkar as the brand ambassador for the Technopaints brand.