Technopaints And Chemicals Filed DRHP For ₹500 Crore IPO

New Delhi [India], September 30: Technopaints and Chemicals has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise up to ₹500 crore through an initial public offering (IPO).

According to the DRHP, the proposed issue comprises a fresh issue of shares worth up to ₹325 crore and an offer for sale (OFS) of up to ₹175 crore by existing shareholders, including promoters.

The company may also consider a pre-IPO placement of up to ₹65 crore before filing its red herring prospectus with the Registrar of Companies. If completed, the amount raised through the pre-IPO placement will be deducted from the fresh issue.

According to the DRHP, the company proposes to utilise around ₹149.1 crore from the fresh issue proceeds to set up a greenfield paints manufacturing and innovation facility at Ibrahimpatnam, Telangana. Another ₹80 crore is proposed to be used to part-fund incremental working capital requirements, with the remaining proceeds allocated for general corporate purposes.

According to the DRHP, the proposed facility is expected to have an installed capacity of 2,34,000 metric tonnes per annum (MTPA) for powder paints, including putties and textures, and 31,200 kilolitres per annum (KLPA) for liquid paints, including emulsions, primers and enamels.

Hyderabad-based Technopaints and Chemicals provides turnkey paint supply and application services to real estate developers and builders. It also sells putties, textures, primers, emulsions and enamels to business-to-business customers and through franchise partners. As of July 31, 2026, the company had 28 franchisees operating independent retail outlets.

According to the DRHP, its order book stood at ₹994.7 crore as of July 31, 2026.

For the financial year ended March 2026, the company reported revenue from operations of ₹350.5 crore, compared with ₹208.1 crore in the previous financial year. Restated profit increased to ₹37.8 crore from ₹16.7 crore during the same period.

Anand Rathi Advisors is the sole Book Running Lead Manager for the proposed IPO.

Disclaimer: The filing of the DRHP with SEBI does not constitute approval of the proposed issue. The securities referred to in the DRHP have not been approved or disapproved by SEBI, and SEBI does not certify the accuracy or adequacy of the DRHP. The proposed issue is subject to applicable regulatory and statutory approvals and other conditions as stated in the DRHP.

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