365Telugu.com online news,January 29th,2025: Dorf-Ketal Chemicals India Limited, a leading R&D-driven global manufacturer and supplier of specialty chemicals for the hydrocarbons and industrial sectors, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI).

The proposed Initial Public Offering (IPO) consists of a fresh issue of equity shares worth ₹1,500 crore and an offer for sale (OFS) of shares amounting to ₹3,500 crore by promoter entity Menon Family Holdings Trust. The total issue size aggregates to ₹5,000 crore, with equity shares carrying a face value of ₹5 each.

Founded in 1992, Dorf-Ketal is a major player in the specialty chemicals industry, offering products in two key segments:

  • Hydrocarbon Specialty Chemicals: Includes oil field, refinery chemicals, petrochemicals, fuel additives, and modified acids.
  • Industrial Specialty Chemicals: Encompasses organometallic titanates and zirconates, polyvinyl formamide (PVF), optical brightening agents (OBA), and lubricant additives.

As of October 31, 2024, Dorf-Ketal had a strong customer base, including major corporations such as Reliance Industries, Petronas, Indian Oil Corporation, PPG Industries, Clariant, Liberty Energy, Italiana Petroli, and Vedanta. The company served 1,322 customers during the six months ending September 30, 2024.

According to the F&S Report, Dorf-Ketal ranked first in revenue market share in India and Brazil for oil field, refinery chemicals, petrochemicals, and fuel additives in 2023. It also held a global leadership position in modified acids, organometallic titanates and zirconates, and PVF, while being among the top five global players in fuel additives.

The company operates 16 manufacturing facilities across four countries:

  • India: 8 facilities with a total installed capacity of 147,770 MTPA.
  • Brazil, the U.S., and Canada: 8 facilities with a combined capacity of 194,770 MTPA.

Its Mundra, Gujarat plant, with a capacity of 98,900 MTPA, is one of the largest organometallic titanate manufacturing facilities globally. Dorf-Ketal also has dedicated R&D centers in India, Singapore, Canada, and Brazil, supported by 542 patents registered globally, including 99 in the U.S. and 29 in India.

Dorf-Ketal has expanded its global footprint through strategic acquisitions, including:

  • Impact Fluid Solutions LP (USA) – June 2024
  • Fluid Energy Group’s Modified and Synthetic Acid Business (Canada) – January 2023
  • Clariant’s North American Land Oil Business – March 2023
  • Khyati Chemicals Pvt Ltd (India) – April 2022

The company has demonstrated robust financial growth, with revenue from operations increasing at a CAGR of 45.47% to ₹54,795 million from FY22 to FY24. EBITDA grew at 60.54% CAGR to ₹9,504 million, while restated profit after tax rose at a CAGR of 50.18% to ₹6,020 million.

The IPO is being managed by JM Financial Limited, Citigroup Global Markets India, HSBC Securities and Capital Markets (India), J.P. Morgan India, Morgan Stanley India, and Motilal Oswal Investment Advisors.

Dorf-Ketal aims to leverage its market leadership, global manufacturing and distribution network, and strong R&D capabilities to further strengthen its position in the specialty chemicals industry.