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  • Fairfax India (FIH.U) holding Chemplast Sanmar has filed a prospectus for a proposed initial public offering
  • Chemplast Sanmar is an Indian specialty chemicals manufacturer
  • It filed the draft red herring prospectus with the Securities and Exchange Board of India
  • Chemplast may raise up to US$472 million from issuing new equity shares of up to US$202 million
  • Fairfax India currently owns 398,853 shares of parent Sanmar Chemicals Group, representing a 42.9 per cent interest on a fully-diluted basis
  • Fairfax India is an investment holding company focused on equity securities and debt instruments in India
  • Fairfax India Holdings (FIH.U) is up 1.41 per cent, trading at C$12.24 per share as of 3 pm ET

Fairfax India (FIH.U) holding Chemplast Sanmar has filed a prospectus for a proposed initial public offering.

Chemplast Sanmar, a subsidiary of Sanmar Chemicals Group, filed the draft red herring prospectus with the Securities and Exchange Board of India.

Pursuant to the IPO, Chemplast may raise up to INR$35 billion (approximately US$472 million) from issuing new equity shares of up to INR$15 billion (US$202 million).

The Sanmar Group’s secondary sale of Chemplast shares may aggregate up to INR$20 billion (US$270 million).

Chemplast Sanmar is an Indian specialty chemicals manufacturer with a focus on paste PVC resin and custom manufacturing of starting materials and intermediates for the pharmaceutical, agro-chemical and fine chemical sectors.

Chemplast also wholly-owns Chemplast Cuddalore Vinyls, India’s second-largest manufacturer of suspension PVC resin.

Fairfax India currently owns 398,853 shares of Sanmar Chemicals Group, representing a 42.9 per cent interest on a fully-diluted basis.

Fairfax India is an investment holding company focused on equity securities and debt instruments in India.

Fairfax India Holdings (FIH.U) is up 1.41 per cent, trading at C$12.24 per share as of 3 pm ET.

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