Jyothy Labs files papers for IPO

Jyothy Labaratories, the makers of Ujala fabric whitener and Maxo mosquito repellent coils, has filed its draft red herring prospectus (DRHP) with the Securities & Exchange Board of India (Sebi) for an initial public offering (IPO).

The company is planning to sell 44,30,260 equity shares of Rs 5 each that is being divested by investors including Canzone, South Asia Regional Fund, CDC Investment Holdings ICICI Bank Canada and ICICI Bank UK PLC.

The offer will constitute 30.52% of the post-issue capital of the company.

Kotak Mahindra Capital Company and Enam Financial Consultants are the lead managers to the offer.