New Delhi, July 6 -- Safex Chemicals is in the process of bringing its initial public offering (IPO) of Rs.450 crore in the near future. The speciality chemicals company has filed a Draft Red Herring Prospectus (DRHP) with the capital markets regulator, Securities and Exchange Board of India (SEBI), to bring the issue, which combines a fresh issue of Rs.450 crore and an offer for sale (OFS) up to 3,57,34,818 shares.

The offer also includes a subscription reservation by eligible employees in the employee reservation portion.

The offer is being made through the book-building process, wherein not more than 50 per cent of the offer is allocated to qualified institutional buyers, and not less than 15 per cent and 35 per cent of the offer is ...