InvestorQ : Can you tell me about the proposed Keventer Agro IPO?
Mitali Bhutta made post

Can you tell me about the proposed Keventer Agro IPO?

1 year ago

Keventer Agro, a Kolkata based company specializing in food and beverages, has filed the draft red herring prospectus or DRHP with SEBI for its proposed IPO. Based on the details available on the DRHP, the IPO will consist of a fresh issue of shares worth Rs.350 crore and in addition, there will also be an offer of sale of 10.77 million shares by key shareholder Mandala Swede SPV. The overall size of the IPO is expected to be around Rs.800 crore.

Proceeds of the fresh issue component will be used by Keventer to retire debt as well as to finance its capital expenditure plans. Keventer currently has interests in dairy and fresh food products. In fact, the company has broad-based presence across the value chain including fresh, frozen and ambient long shelf-life food category products. The food business is a high growth business as it gets increasingly under the organized sector.