Mumbai: Galaxy Surfactants on Friday said it has fixed price band between Rs1,470 and Rs1,480 per equity share for its initial public offer (IPO).

The company plans an IPO of up to 6,331,674 equity shares of face value of Rs10 each for cash. The offer consists of an offer for sale of up to 39,250 equity shares by the promoter selling-shareholders up to 2,107,804 equity shares by the promoter group selling-shareholders and up to 4,184,620 equity shares by the other selling-shareholders.

The company’s IPO proposes to open on 29 January and closes on 31 January. Galaxy Surfactants is one of India’s leading manufacturers of surfactants and other speciality ingredients for the personal care and home care industries.

The company’s diversified customer base currently comprises multinational, regional and local fast moving consumer goods (FMCG) companies, including, Cavinkare, Colgate-Palmolive (India), Dabur India, Henkel, Himalaya, L’oreal, Procter & Gamble, Reckitt Benckiser, Ayur Herbals, Jyothy Laboratories and Unilever.

At present, it has seven strategically-located manufacturing facilities, out of which five are located at Tarapur & Taloja in Maharashtra; and Jhagadia in Gujarat and two are located overseas in the US and Egypt.

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