Dorf Ketal Chemicals submitted DRHP to SEBI for an IPO valued at Rs 5,000 crore

Dorf Ketal Chemicals IPO date is not announced yet. Dorf Ketal Chemicals is a book built issue and have plan to raise around ₹5,000 crores via IPO that comprises fresh issue of ₹3,500 crore and offer for sale up to [.] Equity Shares with face value of 5 each. The retail quota is 35%, QIB is 50%, and HNI is 15% as per DRHP. The IPO to list on NSE and BSE.

One of the leading firms in providing hydrocarbons and oil and gas decided for an IPO of Rs 5,000 crore, preliminary papers have been submitted to the SEBI, wherein a fresh issue of Rs 1,500 crore and OFS is Rs 3,500 crore. 

Moreover, the IPO proceeds will be utilized for major work such as paying off debts that both the company and its subsidiary, Dorf Ketal Chemicals FZE, owe. 


In the OFS process, Rs3,500 Crores shares would be sold by promoter Menon Family Holdings Trust. If pre-IPO placement would be arranged, Rs 300 crore by anchor investors and fresh issues size would be shorted.

Dorf Ketal Chemicals’ lead manager’s names are HSBC Securities and Capital Markets (India) Pvt Ltd, J.P. Morgan India, Morgan Stanley India, Motilal Oswal Investment Advisors Ltd, JM Financial Ltd, Citigroup Global Markets India Pvt Ltd.

Dorf-Ketal Chemicals, founded in 1992, is a leading global supplier of specialty chemicals. They focus on research and development, providing products to industries like oil and gas, refining, petrochemicals, and more.

Its advanced technology usage meets the changing needs of the industry, providing creative solutions and customized services that are practical and responsive. 

This has taken a total of 16 manufacturing facilities across India and overseas also, eight in India two in Brazil, three in the US, and three in Canada—as of October 2024. Dorf-Ketal holds 542 patents globally, including 99 in the US and 29 in India, renowned as one of the few Indian chemical companies along with international brand recognition. 

From FY 2022 to 2024, profit after tax raised at a compound annual growth rate (CAGR) of 50.18%, increased ₹60.20 crore, while revenue portion is also surged of  CAGR of 45.47%, totaling ₹548 crore.

Dorf Ketal Chemicals IPO Prospectus:

DRHP Draft Prospectus:Click Here
RHP Draft Prospectus:To be Updated Soon

Dorf Ketal Chemicals Company Financial Report

Amount ₹ in Crores

Period EndedRevenueExpenseProfit After Tax
2022₹2,632.68₹2,282.33₹265.97
2023₹3,898.40₹3,257.21₹451.10
2024₹5,559.60₹4,776.95₹601.97
September 2024₹3,022.83₹2,708.47₹231.64

Dorf Ketal Chemicals IPO Valuation – FY2024

Dorf Ketal Chemicals IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.

Earning Per Share (EPS):₹11.56 (Basic)
Price/Earning P/E Ratio:N/A
Return on Net Worth (RoNW):23.53%
Net Asset Value (NAV):₹49.14

Peer Group Comparison

CompanyEPSPE RatioRoNW %NAVIncome
SRF Limited45.0655.8611.65386.78– Cr.
Fine Organic Industries Limited134.3432.4521.34629.68– Cr.
Vinati Organics Limited31.1552.9412.53248.55– Cr.
Navin Fluorine International Limited54.5766.3811.43477.48– Cr.
Gujarat Fluorochemicals Limited39.6094.117.53525.94– Cr.
Atul Limited109.5460.396.321,741.97– Cr.

Objects of the Issue

  • Repayment/prepayment, in full or part, of all or certain outstanding borrowings availed by our Company;
  • Investment in our Subsidiary, Dorf Ketal Chemicals FZE for repayment/prepayment, in full or part, of all or certain of its outstanding borrowings; and
  • General corporate purposes.

IPO Lead Managers aka Merchant Bankers

  • JM Financial Limited
  • Citigroup Global Markets India Private Limited
  • HSBC Securities and Capital Markets (India) Private Limited
  • J.P. Morgan India Private Limited
  • Morgan Stanley India Company Private Limited
  • Motilal Oswal Investment Advisors Limited
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