Gemini Edibles & Fats files DRHP to raise Rs 2,500 crore via IPO

Gemini Edibles & Fats India on Monday said the company has filed a draft red herring prospectus (DRHP) with the Securities Exchange Board of India (Sebi) for a Rs 2,500-crore initial public offering (IPO). The city-based firm makes the 'Freedom' brand of sunflower oil.

The issue is a complete offer for sale by the selling shareholders and the company will not receive any fund from the net proceeds of its IPO," the firm said in a press release.

According to the DRHP, the IPO is an offer for sale of equity shares worth up to Rs 25 crore by Pradeep Chowdhry; Rs 225 crore by Alka Chowdhry; Rs 750 crore by Golden Agri International Enterprises; Rs 1,250 crore by Black River Food Pte Ltd; and Rs 250 crore by Investment and Commercial Pte Ltd.

Golden Agri International Enterprises holds 56.27 percent stake in GEFIL; Alka Chowdhry 11.56 percent; Black RiverFood 25 percent; Investment and Commercial Enterprises 6.6 percent; and Pradeep Chowdhry holds 0.57 percent, the DRHP said.

Axis Capital, Credit Suisse Securities (India), Kotak Mahindra Capital Company, and Nomura Financial Advisory and Securities (India) are the investment bankers to the issue.