South India based Sheetal Refineries Limited has informed the share market(BSE/NSE) that they have planning to enter capital markets with its public issue of Rs 60 crore. The company has filed a Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) for the same. The premium to be decided via 100% book building process. The IPO price band has not been decided yet. Edible oil refiner Sheetal Refineries is engaged trading and refining of rice bran oil, sunflower oil, soya bean oil, cottonseed oil, palm oil and groundnut oil. It sells majority of products in Andhra Pradesh and Tamil Nadu.
The proceeds of the IPO amount would be used by the company for setting up additional refining unit with the refining capacity of 75000 TPA at Nandigama; subsidiary company, M/s. Sheetal Siddhi Veg Oil Pvt Ltd, for increasing the refining capacity by 30,000 TPA at Thimmapur; and long term working capital requirements.
The shares are proposed to be listed on the Bombay Stock Exchange Limited (BSE) and the National Stock Exchange of India Limited (NSE).
The Sole Book Running Lead Manager (BRLM) to the issue is Chartered Capital And Investment Limited.
Registrar of the Issue : Bigshare Services Private Linited, Mumbai.
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