Hyderabad-based mostly GEF India is a subsidiary of Singapore-listed Golden Agri-Sources, which is the world’s second largest palm oil plantation agency.
In accordance with the DRHP, the corporate needs to spice up Rs 2,500 crore by means of the IPO. The problem will solely be a suggestion for sale (OFS) by present shareholders and promoters - Pradeep Kumar Chowdhry, Golden Agri Worldwide Enterprises Pte, Black River Meals 2 Pte and Investment and Business Enterprise Pte.
Gemini Edibles is backed by worldwide PE fund Proterra Investment Partners which owns about 25% stake inside the firm.
50 per cent portion of the online challenge is reserved for certified institutional patrons (QIBs), whereas 15 per cent stake will seemingly be allotted to non-institutional buyers (NIIs). Retail buyers may have 35 per cent reserved for them.
Gemini sells its merchandise throughout the edible oil section beneath the manufacturers Freedom and First Klass. Freedom, the flagship model of Gemini Edibles, is crucial selling mannequin within the sunflower oil class in Telangana, Andhra Pradesh & Odisha.
Palm oil accounted for 60 per cent of the whole imports, adopted by soya oil and sunflower oil. The nation imports palm oil from Malaysia and Indonesia whereas soya oil comes from Argentina and Brazil. Ukraine and Russia present sunflower oil to India.
Axis Capital, Credit Suisse Securities (India), Kotak Mahindra Capital Company and Nomura Monetary Advisory and Securities (India) have been appointed as information working lead managers (BRLMs) to the issue. KFin Applied sciences is the registrar for the IPO.
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