Sresta Natural Bioproducts files DRHP with SEBI for Rs 500 crore IPO
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Sresta Natural Bioproducts has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise up to Rs 500 crore through an initial public offering (IPO). The equity shares of the company are proposed to be listed on BSE and NSE.
The company proposes to utilise the net proceeds from the fresh issue towards funding the working capital requirements, repayment of debt and general corporate purposes. JM Financial and Axis Capital are the book running lead managers to the issue.
Sresta Natural Bioproducts is engaged in the business of procuring, processing, manufacturing, marketing and research and development of organic food products.
