Hyderabad: Technopaints and Chemicals Limited has filed its draft red herring prospectus (DRHP) with the capital markets regulator, Securities and Exchange Board of India (Sebi), proposing to raise up to ₹500 crore through an initial public offering (IPO). The offer comprises a fresh issue of up to ₹325 crore and an offer for sale of up to ₹175 crore, according to the filing.The company plans to use the net proceeds from the fresh issue for capital expenditure on a greenfield paints manufacturing and innovation facility, incremental working capital requirements and general corporate purposes.The integrated paint solutions provider clocked a profit after tax of ₹37.7 crore in FY26 with revenue from operations at ₹350.5 crore.
