The Board of Directors of Balaji Amines Limited's material subsidiary, Balaji Speciality Chemicals Limited (BSCL) had accorded their approval for fund raising, subject to receipt of requisite approvals including approval of the shareholders, market conditions and other considerations, by way of an initial public offer of its equity shares, in accordance with the Companies Act, 2013 and the rules made thereunder, the Securities and Exchange Board of India (SEBI).

The proposed offer consists of a fresh issue of Equity Shares aggregating upto Rs. 250 crore (including share premium) and an offer for sale of up to 26,000,000 equity shares by certain existing and eligible shareholders of BSCL. The Company will not be participating in the proposed Offer.

BSCL has announced that it has filed a draft red herring prospectus dated August 10, 2022 with the Securities and Exchange Board of India.