Maharashtra-based rice exporter Shriram Food Industry has filed draft papers with the SEBI to raise funds via initial public offering to cut down its debt burden.
The IPO comprises of fresh issue of up to Rs 2.12 crore shares, and an offer-for-sale of 52 lakh shares by promoters Orient Dealtrade, and Greta Industries.
The Greta Group company proposed to spend Rs 70 crore for repayment of its borrowings, and the remaining amount will be used for general corporate purposes.
"As of July 2025, .... aggregate outstanding borrowings from banks was Rs 154.4 crore," Shriram Food Industry said.
With milling and processing facility in Nagpur, Maharashtra, it has a processing capacity of over 76,800 metric tons per year, supported by a storage capacity of 50,000 metric tons.
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Shriram Food Industry that competes with listed peers like Sarveshwar Foods, Chaman Lal Setia Exports, and GRM Overseas reported inconsistency in its financial performance in the recent past years. Profit in FY25 soared by 195.3 percent to Rs 42.8 crore, up from Rs 14.5 crore in previous year. Revenue in the same period surged 104.1 percent to Rs 1,359.4 crore, increasing from Rs 666 crore. However, profit in FY24 fell 57.3 percent and revenue 47.1 percent compared to the fiscal year 2023.
Choice Capital Advisors is appointed as the merchant banker for the Shriram Food Industry IPO.
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