Sandhya Marines has filed a Draft Red Herring Prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to float its initial public offering (IPO).
The IPO comprises of a fresh issue of up Rs 300 crore and an offer for sale of up to 1.26 crore equity shares. The funds will be utilized for setting up of a shrimp processing unit, an aqua-feed mill facility and a new corporate office and for the repayment of debt.
Karvy Investment Banking and SBI Capital Markets are the book running lead managers to the issue.
Sandhya Marines exports ready-to-cook and ready-to-eat frozen seafood products that are made from cultured Pacific White Shrimp across North America, Europe and Asia.
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