JAMMU, FEB 14: Sarveshwar Foods Ltd, engaged in the business of processing and marketing of branded and un-branded basmati and non-basmati rice in the domestic and international markets, now plans to enter the capital market with an initial public offer of 64,67,200 equity shares of face value R 10 each for cash. This was informed during a press meet and investors meet organized with regard to Proposed Public Issue ( IPO ) today.
Promotor of the company Rohit Gupta, informed that the funds raised through the Public Issue would be utilized for finance of working capital requirement, investment in subsidiary, meeting the expenses to the Offer and General Corporate purposes.
The Issue is being made through the Book Built Process wherein 50% of the Net Issue shall be available for allocation on a proportionate basis to Retail Investors, and balance 50% of the Net Issue shall be available for allocation on a proportionate basis to Non-Retail Investors, irrespective of the number of specified securities applied for, in accordance with SEBI ICDR Regulations, subject to valid Bids being received at or above the Issue Price. The unsubscribed portion in either categories specified above may be allocated to the applicants in the other category.
The equity shares are proposed to be listed on the SME Platform of National Stock Exchange of India Limited (NSE).
The Book Running Lead Managers to the Issue are Keynote Corporate Services Limited, Small Industrial Development Bank of India (SIDBI), Indian Overseas Bank (IOB) and Asit C Mehta Investment Interrmediates Limited (ACMIIL). Bigshare Services Private Limited is the Registrar to the issue and Keynote Capitals Limited is acting as the Market Maker. Radha Kirthivasan, Head Merchant Banking, Keynote Corporate Services Limited, Mumbai also spoke on the occasion.