Indian Specialties Maker Wins Share Listing Approval

Meghmani Organics Ltd. (MOL; Ahmedabad, India), an agchem and pigment producer, has obtained in-principle approval to list its shares on the Indian stock exchange. It plans to offer shares worth Rs1.02 billion ($25 million) via an initial public offering (IPO). MOL has a stock exchange listing in Singapore. “Synergies from a dual listing in Singapore and India should include greater value for shareholders and higher standards of corporate transparency,” says Ashish Soparkar, managing director at MOL. Capital raised from the IPO will be used to build a...

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