Edible oil firm Gemini Edibles & Fats India has filed with SEBI a draft red herring prospectus to raise ₹2,500 crore through an initial public offering (IPO). The issue is a complete offer for sale by the selling shareholders and the company will not receive any funds from the net proceeds of its IPO. It consists of sale of shares worth up to ₹25 crore by Pradeep Chowdhry; up to ₹225 crore by Alka Chowdhry; up to ₹750 crore by Golden Agri International Enterprises (GAIE); up to ₹1,250 crore by Black River Food; and ₹250 crore by Investment and Commercial Enterprise (ICE). The company is the owner of the Freedom brand cooking oil.
Published - August 09, 2021 11:06 pm IST
