IPO
Swiss agri-tech firm Innoterra’s India arm files papers to raise Rs.105-Cr
Innoterra , the Indian subsidiary of the Swiss agritech firm Innoterra, has filed papers to raise funds through an initial public offering. The proposed transaction consists of a fresh issue of equity shares aggregating up to INR 105 crore and an offer-for-sale of 7,055,315 equity shares by existing shareholders, including Milklane Holding and Mahyco. InCred Capital Wealth Portfolio Managers is the sole book-running lead manager to the issue.Innoterra is an asset-light agri-food business that operates across the agri-food value chain. It operates a B2B (business-to-business) milk procurement platform that connects dairy farmers with institutional buyers through a technology-driven network.The company plans to use the proceeds from the fresh issue to establish new bulk milk collection centres, replace cooling units at existing facilities, meet working capital requirements, and pursue potential acquisitions.
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