New Delhi, Integrated fresh-fruit supply chain company M K C Agro Fresh Ltd has filed draft papers with capital markets regulator Sebi for its proposed Initial Public Offering (IPO).
The IPO includes a fresh issue of 99.99 crore equity shares and an Offer For Sale (OFS) of 68.12 lakh equity shares by existing shareholders, according to the company’s Draft Red Herring Prospectus (DRHP) filed last week.
Proceeds from the fresh issue will be used for repayment or prepayment of certain borrowings and general corporate purposes, the draft papers noted.
M K C Agro Fresh operates an integrated fresh fruit supply chain through a tree-to-table business model, with operations spanning procurement from farmers, sorting, grading, waxing, ripening, controlled-atmosphere storage, processing, logistics and distribution.
Headquartered in the Delhi-NCR region, the company’s product portfolio covers over 15 fruit categories, including apples, oranges, mangoes, grapes, kiwis and bananas.
The company operates a 5,756-metric-tonne controlled-atmosphere cold-storage facility in Greater Noida.
It is also setting up a 500-metric-tonne-per-day frozen concentrated orange juice facility at Bargaon, Warud, in Maharashtra’s Vidarbha region. The project has been accorded ‘Mega Project’ status by the Maharashtra government and is expected to start commercial production by March 31, 2027, draft papers noted.
Narnolia Financial Services is the book-running lead manager to the issue, while Bigshare Services is the registrar.
