Shreeji Global FMCG, an agriculture commodity processing company, plans to raise ₹85 crore through on NSE Emerge.
The company will issue 68 lakh equity shares in the price band of ₹120 – ₹125 a share. The issue will open for subscription on Tuesday.
The net proceeds from the IPO will be used for setting up a new processing plant, cold storage, solar project and as working capital. Interactive Financial Services will be the book-running lead manager while MUFG Intime India has been appointed as the registrar.
Jitendra Kakkad, Managing Director, Shreeji Global FMCG, said proceeds from the IPO will enhance production efficiency, energy sustainability and supply chain capabilities.
It will also enable the company to expand product portfolio and meet the evolving needs of consumers, he added.
Operating across 22 states and 25 export markets under the brand ‘SHETHJI’, the company has strengthened capabilities with automated spice and multigrain units near Rajkot, a 5,000 tonne cold storage facility.
The company produces gluten-free, high-fibre flours and ready-to-use spice mixes – Garam Masala, Pav Bhaji Masala and Sambhar Masala.
Last fiscal, the company registered revenue of ₹649 crore, EBITDA of ₹20 crore and net profit of ₹12 crore.