MKC Agro Fresh files draft papers with SEBI for IPO
The IPO will comprise a fresh issue of up to 99.99 lakh equity shares and an Offer for Sale of up to 68.12 lakh shares by existing shareholders
M K C Agro Fresh Ltd, a fresh-fruit supply chain company, has submitted draft papers to the regulatory body SEBI for an Initial Public Offering (IPO). The IPO would involve issuing up to 99.99 lakh equity shares and allowing existing shareholders to sell up to 68.12 lakh shares through an Offer for Sale (OFS), as per the Red Herring Prospectus.
The funds raised would be utilized for repaying borrowings and other general corporate purposes. The company's business model involves a tree-to-table supply chain, covering procurement from farmers to distribution. Based in the Delhi-NCR area, M K C Agro Fresh produces a range of over 15 fruits, such as apples, oranges, mangoes, grapes, kiwis, and bananas.
The company operates a cold storage facility of 5,756 tonnes in Greater Noida and is developing a 500-tonne-per-day frozen orange juice facility in Maharashtra's Vidarbha region, which is expected to commence operations by March 31, 2027. Narnolia Financial Services will manage the issue, while Bigshare Services will act as the registrar.
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