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.
