Safex Chemicals Files ₹450 Cr IPO—ChrysCapital-Backed Agro Player Targets Debt Reduction

Safex Chemicals Ltd, backed by private equity giant ChrysCapital, has filed draft papers with SEBI to launch its initial public offering (IPO), aiming to raise ₹450 crore via a fresh issue, alongside an offer-for-sale (OFS) of 3.57 crore shares by existing shareholders. The Delhi-based agrochemical firm plans to use ₹365.6 crore from the proceeds to repay outstanding debt, with the remainder allocated for general corporate purposes.

 

Promoters currently hold 54.3%, while ChrysCapital—through entities like Sarcoline, Anchor Partners, and Sage Investment Trust—owns 44.8%. The company may also raise up to ₹90 crore in a pre-IPO round.

 

Safex operates across three verticals: branded formulations, specialty chemicals, and contract development & manufacturing (CDMO), with a UK-based plant in Norwich. Despite posting a loss of ₹14.3 crore in FY25, revenue rose 12.8% YoY to ₹1,584.8 crore. The IPO is being managed by Axis Capital, JM Financial, and SBI Capital Markets.

 

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Source: Moneycontrol – Safex Chemicals IPO Filing Details