Shriram Food Industry has secured Securities and Exchange Board of India’s (SEBI's) approval to raise funds through initial public offering (IPO). The company’s IPO includes up to 2.12 crore fresh equity shares and an offer for sale of 52 lakh shares by promoters -- Orient Dealtrade and Greta Industries.
The company proposed to spend Rs 70 crore for repayment of its borrowings, and the remaining amount will be used for general corporate purposes. The company's shares will be listed on the NSE and BSE.
Incorporated in 2014, Shriram Food Industry operate on a business-to-business model and is primarily engaged in the export of rice to international markets.
| Company Name | CMP |
|---|---|
| Redington | 215.90 |
| Adani Enterprises | 2404.05 |
| Amrapali Industries | 18.00 |
| Rashi Peripheral | 458.60 |
| PDS | 274.45 |
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