Narmada Bio-Chem files DRHP with Sebi

The equity shares offered through this issue are proposed to be listed on the BSE and the NSE.

Sep 29, 2018 05:09 IST India Infoline News Service

Initial Public Offer, IPO
Ahmedabad-based Narmada Bio-Chem, which is engaged in the manufacturing of various types of chemical and organic fertilizers, has filed its Draft Red Herring Prospectus (DRHP) with the market regulators Sebi seeking permission for its Initial Public Offering (IPO).

The IPO comprises an issue of up to 72 lakh equity shares of face value of Rs10 each (“equity shares”) of Narmada Bio-Chem Limited (the “company” or the “issuer”) consisting of a fresh issue of up to 54 lakh equity shares and an offer for sale of up to 18 lakh equity shares by Narmada Organics Private Limited (“selling shareholder”).

The price band, the employee discount, and the minimum bid lot will be decided by the company and the selling shareholder in consultation with the Book Running Lead Managers (BRLMs).

The Net Proceeds from the issue will be utilized towards funding the working capital requirements of the company; and general corporate purposes. 

The equity shares offered through this issue are proposed to be listed on the BSE and the NSE 

Pantomath Capital Advisors Limited is the BRLM and Karvy Computershare Private Limited is the registrar to the Issue.

Related Story