Godrej Agrovet's initial public offering (IPO) opens today for subscription, with a price band of Rs 450-460 per share. It has raised a little over Rs 341 crore from anchor investors ahead of the IPO.
In an interview to CNBC-TV18, Balram Yadav, MD of Godrej Agrovet spoke about the same.
Yadav said animal feed has been the biggest business. Other businesses also growing faster, he added.
He further said that animal feed business will continue to be the cash cow for the company.
Talking about IPO, he said primary issue of Rs 300 crore to be used to pay debt which is over Rs 600 crore.
Will continue doing regular capex at around Rs 100-150 crore for next three-five years, he added.
On debt front, he said company will be left with negligible debt by end of the year.Watch accompanying video for more details.