Bharat PET Ltd Poised for Landmark Rs 760 Crore IPO

Bharat PET Ltd, a leading provider of integrated packaging solutions, has filed draft papers with the Securities and Exchange Board of India (Sebi) to raise Rs 760 crore through an initial public offering (IPO).

The IPO comprises a fresh issue worth Rs 120 crore and an offer for sale (OFS) amounting to Rs 640 crore by the existing promoters. According to the Draft Red Herring Prospectus (DRHP), the firm is considering a pre-IPO placement of up to Rs 24 crore, which could adjust the fresh issue size.

Established in 1998, Bharat PET manufactures a variety of rigid packaging items and holds an 11% market share in India's agrochemical packaging sector. The proceeds will be directed towards repaying borrowings, purchasing equipment, and general corporate purposes. Equirus Capital and Ambit are managing the IPO process.