Keventer Agro recordsdata DRHP for IPO with Sebi

Recent Delhi: Mandala Capital-backed Keventer Agro has filed draft crimson herring prospectus (DRHP) with the Securities Trade Board of India (Sebi). The IPO consists of issuance of new equity shares rate Rs 350 crore, with a face price of Rs 5 each and each and an offer within the marketplace (OFS) of as much as 10,767,664 equity shares by its promoter Mandala Swede SPV.

In conserving with the DRHP, Mandala Swede SPV holds 6.16 per cent stake within the Kolkata-essentially essentially essentially based Keventer Agro Puny.

Within the DRHO, the corporate said (OFS) entails 15.35 million obligatory convertible decision shares, which will more than doubtless be converted as much as a most of 9.15 million shares earlier than the submitting of the crimson herring prospectus with the RoC, completely for the reason for the offer.

The company added that it might per chance well truly per chance doubtless elevate Rs 50 crore via pre-IPO placement, which will decrease the scale of new equity within the snarl.

The score proceeds from the snarl will more than doubtless be feeble to repay debt rate Rs 155 crore and Rs 110.76 crore will more than doubtless be utilised for funding capital expenditure necessities.

Keventers Agro is a main FMCG player active within the bundle, dairy and new food section. It has a presence throughout the associated price chain within the brand new, frozen and ambient long shelf lifestyles food product classes.

The company has franchised agreement with Parle Agro manufacturing, filling, packing, selling and distributing of franchised merchandise. Its franchised manufacturers consist of Frooti, Appy, Appy Fizz and Bailey. It also sells frozen food, UHT milk, milkshakes and bananas beneath the Keventer imprint.

The company has appointed ICICI Securities, Axis Capital and JM Financial because the book working lead managers (BRLMs) to the points. Hyperlink InTime India is the registrar to the snarl.

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