Sunday, February 25, 2018

aci-godrej-agrovetMumbai based Godrej Agrovet Limited, a diversified, research and development focused agri-business company, filed its Draft Red Herring Prospectus (DRHP) with the market regulator SEBI seeking permission for its Initial Public Offering (IPO). The company operates across five business verticals viz. animal feed, crop protection, oil palm, dairy, and poultry and processed foods. They are the leading compound animal feed company in India, on the basis of installed capacity for the financial year 2016. (Source: CRISIL Animal Feed Report)

The IPO comprises of a fresh issue of up Rs. 3000 million and an offer for sale of by Godrej Industries Limited aggregating up to Rs. 3000 million and up to 12,300,000 equity shares by V-Sciences Investments Pte Ltd.

The issue would include a reservation of up Rs. 200 million for subscription by eligible employees and also proposes to issue up to 405,500 equity shares to identified employees of the company under the ESPS.

The equity shares will have a face value of Rs 10 and the price band will be decided in consultation with the Book Running Lead Managers (BRLMs).

The Net Proceeds from the Issue will be utilised towards repayment or prepayment of working capital facilities availed by the company, repayment of commercial papers issued by the Company; and for general corporate purposes, subject to the applicable laws.

Kotak Mahindra Capital Company Limited, Axis Capital Limited and Credit Suisse Securities (India) Private Limited are the book running lead managers to the issue and Karvy Computershare Private Limited is the Registrar.