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IPO

Organic food co Sresta Natural Bioproducts to raise Rs.500-Cr via IPO

Economic Times  

Organic food company Sresta Natural Bioproducts Ltd, which owns the 24 Mantra brand, has filed preliminary documents with capital markets regulator Sebi to raise INR 500 crore through an IPO. The IPO comprises fresh issue of equity shares aggregating to INR 50 crore and an offer-for-sale of up to 70,30,962 equity shares by the selling shareholders. JM Financial and Axis Capital are the book running lead managers to the issue. The company will use the proceeds for funding working capital requirements, repayment of debt and general corporate purposes. Sresta Natural Bioproducts is engaged in the business of procuring, processing, manufacturing, marketing and research and development of organic food products.