Kolkata-based agribusiness firm Regaal Resources Ltd has filed a draft red herring prospectus (DRHP) with market regulator SEBI to raise funds through an initial public offering (IPO).
The IPO includes a fresh issue of shares worth up to Rs 190 crore and an offer for sale of up to nine million equity shares by the promoter.
The proceeds from the new issue worth Rs 147 crore will be used for repayment and prepayment of loans and general corporate purposes.
Regaal Resources, one of the leading manufacturers of corn based starch, specialty starch, food grade starch and starch derived products in India, has a milling capacity of 750 tonnes per day.
The company reported a 22.97 percent increase in operating income to Rs 600 crore in FY24, on the back of increased sales of manufactured goods and merchandise.
Pantomath Capital Advisors and Sumedha Fiscal Services are the lead book-running managers, while Link Intime India is the underwriter of the issue.
The shares are proposed to be listed on NSE and BSE.
