Quadria Capital-backed Nobel Hygiene has filed its draft red herring prospectus for an initial public offering to raise fresh capital of Rs 150 crore alongside a secondary share sale.
The company plans to use these funds to expand production capacity at its Halol facility and repay existing bank debt.
The IPO comprises a fresh issue of up to Rs 150 crore of equity shares of face value Rs 2 each and an offer for sale (OFS) of up to 1.55 crore equity shares.
In consultation with its book running lead managers, the company may also consider a pre-IPO placement of up to Rs 30 crore (not exceeding 20% of the fresh issue), which would reduce the fresh issue size correspondingly.
Since Nobel Hygiene did not meet the SEBI ICDR Regulation 6(1)(b) threshold of achieving an average restated and consolidated operating profit of at least Rs 15 crore over the preceding three years, it is pursuing the listing under Regulation 6(2).
