Gemini Edibles & Fats files draft papers with SEBI for IPO
Gemini Edibles & Fats India (GEF) has filed draft papers with the market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The IPO is entirely an offer-for-sale of up to 4.11 crore equity shares by promoters and investors.
Since the proposed IPO has no fresh issue component, the company will not receive any proceeds from the offering. The funds raised through the OFS will accrue to the selling shareholders. Motilal Oswal Investment Advisors and IIFL Capital Services are the book running lead managers for the IPO. The shares of the company are proposed to be listed on BSE and NSE.
GEF is engaged in the trading, processing, manufacturing and marketing of edible oils and specialty fats, and is also expanding into spices and convenience foods.
