Gemini Edibles & Fats IPO: DRHP filed to raise Rs 2,500 cr
Gemini Edibles & Fats India filed a draft red herring prospectus with Sebi for a Rs 2,500-crore IPO.
Gemini Edibles & Fats India Limited on Monday said the company has filed a draft red herring prospectus (DRHP) with the Securities Exchange Board of India (Sebi) for a Rs 2,500-crore initial public offering (IPO).
The city-based firm makes the 'Freedom' brand of sunflower oil.
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The issue is a complete offer for sale by the selling shareholders and the company will not receive any fund from the net proceeds of its IPO," the firm said in a press release.
According to the DRHP, the IPO is an offer for sale of equity shares worth up to Rs 25 crore by Pradeep Chowdhry; Rs 225 crore by Alka Chowdhry; Rs 750 crore by Golden Agri International Enterprises; Rs 1,250 crore byBlack River Food Pte Ltd; and Rs 250 crore by Investment and Commercial Enterprise Pte Ltd.
Golden Agri International Enterprises holds 56.27 per cent stake in GEFIL; Alka Chowdhry 11.56 per cent; Black River Food 25 per cent; Investment and Commercial Enterprises 6.6 per cent;and Pradeep Chowdhry holds 0.57 per cent, the DRHP said.
Axis Capital Limited, Credit Suisse Securities (India) Private Limited, Kotak Mahindra Capital Company Limited, and Nomura Financial Advisory and Securities(India) Private Limited are the investment bankers to the issue.
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