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Last Updated : Feb 28, 2018 05:11 PM IST | Source: Moneycontrol.com

Sandhya Marines files IPO papers with SEBI

The offer comprises of a fresh issue of up Rs 300 crore and an offer for sale of upto 1.26 crore equity shares by Dr K V Prasad, Ms K Suryanarayanamma, K Anand Kumar and K Arun Kumar.

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Seafood products exporter Sandhya Marines has filed its draft red herring prospectus (DRHP) with the market regulator SEBI seeking permission for its initial public offering (IPO).

The offer comprises of a fresh issue of up Rs 300 crore and an offer for sale of upto 1.26 crore equity shares by Dr K V Prasad, Ms K Suryanarayanamma, K Anand Kumar and K Arun Kumar.

The net proceeds from the issue will be utilised towards setting up of a new shrimp processing unit, new aqua-feed mill facility, new corporate office; and repayment of certain indebtedness; and general corporate purposes.

Karvy Investment Banking and SBI Capital Markets are the book running lead managers to the issue. Karvy Computershare Private Limited is the registrar.
First Published on Feb 28, 2018 05:11 pm
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