SME: Raghuvansh Agrofarms to raise Rs 3.96 cr via IPO

Raghuvansh Agrofarms has come out with its public issue of 36 lakh equity shares of face value of Rs 10 each for cash at a price of Rs 11 per equity share, aggregating to Rs 3.96 crore.

The issue is going to open for subscription on January 09 which is scheduled to close on January 13, 2015. The equity shares offered through the prospectus are proposed to be listed on the SME Platform of the BSE.

Raghuvansh Agrofarms, a unique initiative in the agri-dairy products line, aims to spend IPO money for construction of 1000 M3 capacity of bio-gas plant for power generation; investment in subsidiary companies (Sanjeevani Fertilizers and Chemicals Private Limited and Kanpur Organics Private Limited); and general corporate purposes.

Sobhagya Capital Options Limited is the book running lead manager to the issue. Skyline Financial Services Private Limited is the registrar to the offer.