Gemini Edibles files Rs 2,500-cr IPO papers with Sebi

By: |
August 09, 2021 6:43 PM

The initial public offer (IPO) is entirely an offer for sale (OFS) by the company's promoter and existing shareholders, draft red herring prospectus (DRHP) filed with Sebi showed.

The company, which sells cooking oils under the Fortune brand, is a major player in the edible oil industry.The company, which sells cooking oils under the Fortune brand, is a major player in the edible oil industry.

Edible oil company Gemini Edibles & Fats India has filed preliminary papers with capital markets regulator Sebi to raise Rs 2,500 crore through an initial share sale.

The initial public offer (IPO) is entirely an offer for sale (OFS) by the company’s promoter and existing shareholders, draft red herring prospectus (DRHP) filed with Sebi showed.

As a part of the OFS, Black Riverfood 2 Pte will offload equity shares worth Rs 1,250 crore, Golden Agri International Enterprises Pte Ltd will sell shares to the tune of Rs 750 crore and Investment and Commercial Enterprise Pte up will divest shares worth Rs 250 crore.

In addition, shares to the tune of up to Rs 225 crore will be offloaded by Alka Chowdhry and up to Rs 25 crore by Pradeep Kumar Chowdhry.

Gemini is one of the leading and fastest-growing edible oils and fats companies in the country. It is engaged in the business of manufacturing, distribution, and branding of edible oils and specialty fats. Gemini sells its products in the edible oil segment under the brand Freedom.

The proposed public issue is aimed at achieving the benefits of listing the equity shares on the stock exchanges.
Axis Capital, Credit Suisse Securities (India) Private Ltd, Kotak Mahindra Capital Company have been appointed as merchant bankers to advise the company on the IPO.

The equity shares of the company will be listed on the BSE and NSE. Earlier this month, edible oil major Adani Wilmar Ltd filed the draft prospectus with Sebi to raise up to Rs 4,500 crore through an initial public offering. The company, which sells cooking oils under the Fortune brand, is a major player in the edible oil industry.

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