SSF Plastics files for Rs 550 crore IPO

SSF Plastics India Ltd has submitted initial documents for an initial public offering (IPO) to raise Rs 550 crore. The company plans to offer fresh equity shares worth Rs 300 crore and an additional Rs 250 crore through an offer for sale from its promoters. Currently, the promoters fully own the company. The funds from the new equity issue will be used to pay off debts, purchase new machinery, and cover general business expenses. SSF Plastics specializes in packaging solutions, handling services from design to delivery. Its products include bottles, caps, and engineering plastic components. The company serves various industries, including personal care and food and beverages. In terms of financial performance, SSF Plastics reported a profit of Rs 15.19 crore and revenues of Rs 397.41 crore for the six months ending September 2024. IIFL Capital Services Ltd and Nuvama Wealth Management Ltd are leading the management of this IPO.