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Ahmedabad-based chemical and organic fertilizer company Narmada Bio-Chem has filed its Draft Red Herring Prospectus (DRHP) with market regulator SEBI for seeking permission for initial public offering (IPO) of 72 lakh equity shares.
The IPO comprises a fresh issue of upto 54 lakh shares and an offer for sale of upto 18 lakh shares by Narmada Organics Private Limited.
The company is going to use fresh issue proceeds towards funding the working capital requirements; and general corporate purposes.
Narmada Bio-Chem is engaged in manufacturing of various types of chemical and organic fertilizers. It also trades in chemical compounds and organic fertilisers.
The company currently has four production facilities: Unit I & II at Changodar, Ahmedabad, Unit III at Malarpura, and Unit IV at Kalyangadh, Bavla, Ahmedabad. As at March 2018, these four facilities have a installed capacity of around 3,02,000 MT per annum.
Equity shares are proposed to be listed on the BSE and the NSE. Pantomath Capital Advisors is the book running lead manager and Karvy Computershare Private Limited is the registrar to the Issue.
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