Mumbai-based Jasons Industries has re-filed its draft red herring prospectus (DRHP) with market regulator SEBI to raise funds through an initial public offering (IPO). According to a Crisil report, Jasons Industries is one of the leading manufacturers of water-based pressure sensitive adhesives in the coating emulsion, tape and label segment in the paint sector in terms of sales value in India.

The IPO with a face value of Rs 5 comprises a fresh issue of up to Rs 300 crore and an offer for sale of up to 9.46 million equity shares by Dhiresh Shashikant Gosalia. The offer includes reservation for subscription by eligible employees and discounts are being offered to eligible employees bidding in the employee reservation portion.

What the Company does Jasons Industries caters to a wide range of end user industries, including paints, packaging, furniture manufacturing, construction, tiles, textiles, leather chemicals, carpet chemicals and paper chemicals. In addition, the Company may consider a further issue of equity shares including a private placement of up to Rs 60 crore in consultation with the lead bankers to the issue. If such placement is completed, the size of the fresh issue will be reduced.