Fine Organic Industries has filed draft papers to float an initial public offering (IPO), with SEBI.

The company basically deals with production of specialty additive for foods, plastic, rubbers, paints, inks, cosmetics, coatings, textile auxiliaries, lubes and several other specialty applications.

As per the draft prospectus filed with SEBI, the IPO will offer for sale of up to 76,64,994 equity shares by the existing shareholder. The listing will help the company in increasing its brand name and also provide liquidity ti existing shareholders.

Read EquityPandit’s Technical Analysis of Indian Stock Market