Galaxy Surfactants files DRHP with SEBI for IPO


Galaxy Surfactants Limited, one of India’s leading manufacturers of surfactants and other speciality ingredients for the personal care and home care industries in over 70 countries, has filed its Draft Red Herring Prospectus with the regulator for an Initial public offering of up to 6,331,674 equity shares of face value of Rs.10 each (“Equity Shares”) for cash at a price per equity share including a share premium (“Offer Price”).

Galaxy Surfactants’ products find application in a host of consumer-centric personal care and home care products, including, inter alia, skin care, oral care, hair care, cosmetics, toiletries and detergent products. The Company’s product portfolio comprises over 200 product grades, which are marketed to more than 1,700 customers in over 70 countries.

Since their incorporation in 1986, the company has significantly expanded and diversified their product profile, client base and geographical footprint. Their customers include some of the leading multinational, regional and local players in the home and personal care industries.

While the company commenced their operations as a local supplier to FMCG companies in India, they have significantly expanded and diversified the scale and scope of operations over the years so as to become a global supplier to FMCG companies across major geographies, such as Africa Middle East Turkey (AMET), Asia Pacific (APAC), Americas (North and South) and Europe.

Their diversified customer base currently comprises multinational, regional and local FMCG companies, including, inter alia, Cavinkare Private Limited, Colgate-Palmolive (India) Limited, Dabur India Limited, Henkel, Himalaya, L’ORÉAL, Procter & Gamble, Reckitt Benckiser and Unilever.

The bankers to the issue are ICICI Securities, Edelweiss Financial Services and JM Financial Institutional Securities. The company’s equity shares are proposed to be listed on BSE and NSE.

Their products are organized into the following product groups:
Performance Surfactants: Its portfolio of performance surfactants comprises over 45 product grades, and includes anionic surfactants and non-ionic surfactants.

Speciality Care Products: Its Speciality Care Products group comprises over 155 product grades, and includes amphoteric surfactants, cationic surfactants, UV filters, preservatives, preservative blends and surfactant blends, speciality ingredients such as mild surfactants, syndet and transparent bathing bars and proteins, fatty alkanolamides and fatty acid esters, and other care products.

In addition to their domestic sales in India, the company has significantly increased their geographical footprint in recent years by focusing on certain emerging markets such as AMET. Their Step-down Subsidiaries, coupled with the manufacturing facilities in Suez, Egypt, and New Hampshire, USA, enable them to service the international demand for their products. The company has set-up sales offices in India, Egypt and USA, and representative offices in Netherlands and Turkey so as to enable us to market the products as well as understand customer needs in these regions, and consequently, develop products to service such requirements.