IPO
Fruit supply chain co. MKC Agro Fresh files draft papers for IPO
Business Line MoneyControl MKC Agro
Noida-based MKC Agro Fresh has filed draft papers for an Initial Public Offering (IPO). The IPO will comprise a fresh issue of 99.99 lakh equity shares and an offer for sale (OFS) of 68.12 lakh shares by existing shareholders. The transaction is being managed by Narnolia Financial Services, which is acting as the book-running lead manager, while Bigshare Services has been appointed as the registrar.Founded in 1966 by the late Haji Mohd. Kaliyar Qureshi, MKC Agro operates an integrated supply chain using a tree-to-table business model, covering procurement, processing, storage and distribution. It maintains a portfolio of over 15 fruit categories and operates a cold-storage facility in Greater Noida.The company intends to use the proceeds from the fresh issue to repay or prepay existing borrowings.
In Aug 2023, MKC Agro Fresh had attracted funding from The Wealth Company.
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