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IPO

Keventer Agro files DRHP for IPO with Sebi

Economic Times  

Mandala Capital-backed Keventer Agro has filed a draft red herring prospectus (DRHP) with the Securities Exchange Board of India (Sebi). The IPO consists of issuance of fresh equity shares worth INR 350 crore, with a face value of INR 5 each and an offer for sale (OFS) of up to 10,767,664 equity shares by its promoter Mandala Swede SPV. The net proceeds from the issue will be used to repay debt of INR 155 crore. About INR 110.76 crore will be used for funding capital expenditure requirements. Keventers Agro is engaged in the package, dairy and fresh food segment. It has a presence across the value chain in the fresh, frozen and ambient long shelf life food product categories. The company has appointed ICICI Securities, Axis Capital and JM Financial as the book running lead managers (BRLMs) to the issues.

From the Venture Intelligence PE-VC Deal Database: In Sep-17, Keventer Agro raised $25-M from Mandala Capital Fund. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)