Published on 7/02/2018 9:58:09 AM | Source: Dion Global Solutions Ltd

Capricorn Food Products files IPO papers with Sebi

Capricorn Food Products India Ltd, an integrated food processing company, today filed draft papers with markets regulator Sebi to float an initial public offering, reported PTI. The IPO comprises fresh issuance of equity shares worth Rs 171 crore and an offer for sale of up to 76.43 lakh scrips by the existing shareholders, the draft prospectus filed with Securities and Exchange Board of India (Sebi) showed. Proceeds of the issue will be utilised towards repayment of certain indebtedness of the company; investment in its subsidiary -- Gonglu -- for repayment of certain borrowings availed by it; and and general corporate purposes.

IIFL Holdings, ICICI Securities and IDFC Bank will manage the company's public issue. The equity shares are proposed to be listed on the BSE and NSE. Established in 1998, Capricorn Food Products India is a food processing company with both export and domestic operations. It serves clients across North America, Europe, Asia-Pacific, Africa and Middle East.