On August 7, Gemini Edibles and Fats India Ltd., also known as GEF India, filed its draft red herring prospectus (DRHP) with the Securities Exchange Board of India (SEBI) to raise an IPO of ₹2,500 crore.
As per the DRHP, the company has the aim to raise ₹2,500 crore through the IPO. The issue will fully be an offer for sale (OFS) by existing shareholders and promoters.
It comprises equity shares worth ₹25 crore by Pradeep Kumar Chowdhry, up to ₹225 crore by Alka Chowdhry, ₹750 crore by Golden Agri International Enterprises Pte. Ltd., a total of ₹1,250 crore by Black Riverfood 2 Pte. as well as ₹250 crore by Investment and Commercial Enterprise Pte.
As of March, Golden Agri International Enterprises held a stake of 56.27 per cent in the firm along with Alka Chowdhry holding an 11.56 per cent stake. While Black Riverfood held a 25 per cent stake in the company, Investment and Commercial Enterprises, as well as Pradeep Chowdhry, held 6.6 and 0.57 per cents of stake respectively.
The book running lead managers (BRLM) to the IPO will be Axis Capital, Credit Suisse Securities (India), Kotak Mahindra Capital Company and Nomura Financial Advisory and Securities (India). In addition, KFin Technologies has been appointed as the registrar of the IPO.
The company sells its products in the edible oil category under Freedom, which is the flagship brand of Gemini Edibles, and First Klass.
