Sarveshwar Foods SME IPO to open on March 5, price band at Rs 83-85
Sarveshwar Foods is primarily engaged in the business of processing and marketing of various types of rice in the domestic and international markets.
Sarveshwar Foods, engaged in the business of processing and marketing of branded and un-branded basmati and non-basmati rice, entered the capital market with an initial public offer of 64, 67,200 equity shares. The company has fixed price band at Rs 83-85 per share.
The funds raised through the public issue are proposed to be utilized to part finance the working capital requirement, invest in subsidiary- Himalayan Bio Organic Foods Private Limited, meet issue expenses and for general corporate purposes.
Established in 2004 and headquartered in Gummat in Jammu & Kashmir, Sarveshwar Foods is primarily engaged in the business of processing and marketing of various types of rice in the domestic and international markets.
The company currently operates through two rice milling and processing facilities i.e. at Seora (Unit I) and SIDCO (Unit II).
The equity shares are proposed to be listed on the SME Platform of National Stock Exchange of India Limited.
The book running lead managers to the issue are Keynote Corporate Services Limited, Small Industrial Development Bank of India, Indian Overseas Bank and Asit C Mehta Investment Interrmediates Limited. Bigshare Services Private Limited is the registrar to the issue.
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