The Offer comprises the Offer for Sale and the Fresh Issue.
Offer for Sale
The proceeds of the Offer for Sale shall be received by the Promoter Selling Shareholder. the Company will not receive any proceeds from the Offer for Sale. The Promoter Selling Shareholder will be entitled to the proceeds from the Offer for Sale, net of its portion of the Offer related expenses.
Fresh Issue
The Company proposes to utilise the net proceeds of the Fresh Issue, i.e. gross proceeds of the Fresh Issue less the Offer related expenses applicable to the Fresh Issue and the proceeds from the Pre-IPO Placement (“Net Proceeds”) towards funding the following objects:
1. Investment in the wholly owned Subsidiary, Yellowstone Fine Chemicals Private Limited (“YFCPL”) for part-financing its capital expenditure requirements in relation to the setting up of a manufacturing facility for fluorospecialty chemicals (“Proposed Facility”);
2. Investment in YFCPL for funding its working capital requirements;
3. Funding capital expenditure requirements for expansion of the SI Manufacturing Facility (“Proposed Expansion”);
4. Funding working capital requirements of the Company;
5. Purchase of plant and machinery for augmenting infrastructure development at the SI Manufacturing Facility;
6. Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company and the wholly owned Subsidiary, Viva Lifesciences Private Limited (“VLPL”); and
7. General corporate purposes (collectively, referred to herein as the “Objects”). |