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Paramesu Biotech files Rs 600 crore IPO papers with SEBI

11 Nov 2024 Evaluate

Paramesu Biotech has filed preliminary papers with capital markets regulator Securities and Exchange Board of India (SEBI) to raise Rs 600 crore through an Initial Public Offering (IPO). The proposed IPO is a combination of a fresh issue of shares worth Rs 520 crore and an Offer-For-Sale (OFS) of shares to the tune of Rs 80 crore by promoter Unimark Business Solutions.

Proceeds from the fresh issue worth Rs 330 crore will be used for setting up a new plant of 1,200 TPD (tonnes per day) in Madhya Pradesh, Rs 85 crore for payment of debt and the rest towards general corporate purposes. The company is equipped with a current installed capacity of 800 TPD. With a high capacity utilisation rate of 93 per cent in FY 2024.

Paramesu Biotech is one of the largest manufacturers of maize-based speciality products in India. The diversified product portfolio includes native maize starch, modified maize starches, liquid glucose, maltodextrin powder, and co-products such as germs, gluten, fiber, corn steep liquor and enriched fiber, among others.

Peers
Company Name CMP
Venkys India 1589.10
Mangalam Global Ent 13.85
Kaveri Seed 996.10
Regaal Resources 84.98
Simran Farms 168.30
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