Kolkata, Mar 13 (PTI) City-based Rungta Greentech Limited (RGL), a manufacturer of recycled and virgin plastic products, has filed its Draft Red Herring Prospectus (DRHP) with the NSE Emerge for its initial public offering (IPO).
NSE Emerge is a separate bourse of the National Stock Exchange targeted at small and medium enterprises only to tap the capital market.
The RGL said the IPO will consist of a fresh issue of 38 lakh equity shares, each with a face value of Rs 10.
The company operates two manufacturing facilities at Howrah in West Bengal.
As part of its growth strategy, RGL plans to invest a significant portion of the IPO proceeds in its wholly-owned subsidiary, Rungta Eco Extrusions, for a new manufacturing facility.
The company specialises in the production of various plastic products, including recycled PET, flakes, polyester dope-dyed monofilament yarn (PMY), nylon monofilament yarn, and blow- and injection-moulded jars and caps (BM & IM).
These product lines cater to diverse sectors, including packaging, textiles, aquaculture, agriculture, and the edible oil industry.
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