Public Market

IPO

Shri Ahimsa Naturals IPO oversubscribed

MoneyControl  

Jaipur-based crude caffeine processing company Shri Ahimsa Naturals' initial public offering was subscribed 58.38 times. The company that extracts and manufactures caffeine anhydrous natural, green coffee bean extracts and crude caffeine, and also trades other herbal extracts, is raising INR 73.81 crore via an initial share sale of 62.02 lakh shares at INR 113-119 per share.Shri Ahimsa Naturals will utilise INR 35 crore out of fresh issue proceeds for setting up a manufacturing unit at Sawarda, Rajasthan by subsidiary Shri Ahimsa Healthcare, and the remainder funds for general corporate purposes. It has already mobilised INR 20.88 crore by allotting 17.54 lakh shares to several institutional investors via anchor book.