MUMBAI, (GNI): Sarveshwar Foods Limited, established in 2004 and headquartered in Gummat in Jammu & Kashmir, is primarily engaged in the business of processing and marketing of various types of rice in the domestic and international markets now plans to enter the capital market with an initial public offer of 64,67,200 equity shares of face value Rs. 10 each for cash at a Price Band of Rs 83/- to Rs 85/- per Equity Share, Issue Open: Mar 5, 2018 – Mar 7, 2018 announced by Mr. Rohit Gupta the promoter of the company, Listing At: NSE SME.
Company currently operates through two (2) rice milling and processing facilities i.e. at Seora (Unit I) and SIDCO (Unit II).
It is one of the few Indian companies with a presence across the entire “Rice Value Chain”, which includes procurement, storage, milling, sorting, packaging, branding and distribution and has established a formidable brand in the sector.
The Company not only deals with both branded and non-branded rice being grown using both the Conventional as well as Organic method but also deals in other Organic products such as Dry fruits, Pulses, Lentil, Flours, Porridge, Spices, Garam Masalas and Super foods like Chia seeds, Flax seeds, Quinoa seeds, etc.
The Company supplies to the domestic markets such as J&K, Delhi, Telangana, Andhra Pradesh and cities like Chennai and Pune through its 64 distributors across 30 districts with an access to 1,843 retailers. Companyalso enjoys a strong relationship with many of the world’s largest buyers of basmati rice, allowing for exports to key international markets such as USA, Europe and Middle East.
Objects of the Issue:
The object of the issue are:
1. Part finance long term working capital requirement;
2. Invest in subsidiary;
3. General Corporate Purpose; and
4. Meet the expenses of the issue. Ends