Sresta Natural Bioproducts IPO, a Hyderabad-based Organic food products firm has filed draft red herring prospectus (DRHP) with markets regulator SEBI for an initial public offering (IPO). Established on March 9th, 2004, Sresta Natural Bioproducts is in the business of procuring, processing, manufacturing, marketing, and research and development of organic food products.
Sresta Natural Bioproducts has proposed an IPO comprising fresh issue of equity shares aggregating up to ₹50 crore and an offer for sale (OFS) of up to 70.3 lakh equity shares by the selling shareholders that includes Peepul Capital Fund III LLC (upto 22.50 lakh shares) and Ventureast Life Fund III LLC, Ventureast Trustee Company (on behalf of the Biotechnology Venture Fund and Ventureast Life Fund III), who together plan to sell nearly 47.80 lakh shares.
Sresta Natural Bioproducts Limited owns 24 Mantra and is one of the largest brand in packaged organic food segment (excluding organic packaged food market beverage and packaged tea and coffee). The company delivers grocery staples, spices and condiments, edible oils, packaged food, beverages, and meal segments. It has its global reach across 34 countries including the USA where it has its presence across 39 states.
Objectives of the IPO
- The company plans to utilize the net proceeds from the fresh issue towards funding working capital requirements.
- Repay or pre-pay in full or part certain outstanding unsecured/secured borrowings.
- General corporate purposes.
Sresta Natural Bioproducts IPO Promoters
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RAJASHEKAR REDDY SEELAM.
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RENUKA SEELAM.
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BALASUBRAMANIAN NARAYANAN.
Company Financials
Sresta Natural Bioproducts recorded a profit of ₹10.39 crores for the FY21 compared to ₹9.46 crores in the previous year. The company recorded higher revenue at Rs 312.06 crore, rising from Rs 262.27 crore in the same period. The profit for six months to September 2021 was down to ₹1.13 crores compared to ₹7.32 crores the previous year. Revenue during the same period increased to ₹160 crores, from Rs 155.61 crores.
Sresta Natural Bioproducts IPO Details
| IPO Details | Sresta Natural Bioproducts |
| Issue Period | Opening Date: xx-xx-2022 Closing Date: xx-xx-2022 |
| Price Band | ₹ – ₹ per equity share |
| Issue Size | ₹ Cr |
| Face Value | ₹10 per equity share |
| Issue Type | Book built issue |
| Fresh Issue | [.] Equity Shares of ₹10 face value (aggregating up to ₹50 Cr) |
| Offer for sale | 70.3 Lakhs Shares of ₹10 face value (aggregating up to ₹[.] Cr) |
| Listing | NSE and BSE |
| Registrar | KFin Technologies Private Limited |
Sresta Natural Bioproducts IPO Timeline
Sresta Natural Bioproducts IPO issue date, issue price, allotment date, and the listing date, and all the details will be announced soon.
| IPO Opens | To be announced |
| IPO Ends | To be announced |
| Allotment Begins | To be announced |
| Refund Initiation | To be announced |
| Allotment Date | To be announced |
| Listing Date | To be announced |
Sresta Natural Bioproducts IPO Lot Size (Retail Individual Investors)
| Applications | Lots | Shares | Amount(Cut-off) |
| Minimum | – | – | – |
| Maximum | – | – | – |
Sresta Natural Bioproducts IPO Investor Category
Sresta Natural Bioproducts IPO has 10% of the net offer under the Retail Category.
| QIB (Qualified Institutional Buyers) | 75% of net offer |
| NII (Non-Institutional Investors) | 15% of net offer |
| RII (Retail Individual Investors) | 10% of net offer |
Sresta Natural Bioproducts IPO GMP
Sresta Natural Bioproducts IPO has not yet started trading in the grey market. Currently, the GMP is zero and will be updated once it starts trading in the grey market.
Sresta Natural Bioproducts IPO Review
Sresta Natural Bioproducts IPO review will be updated once all the details related to price band and valuations are announced. As of now, no reviews are available. Stay tuned for a detailed review soon.
Sresta Natural Bioproducts IPO Book Running Lead Manager(s)
- JM Financial Limited.
- Axis Capital Limited.
Sresta Natural Bioproducts IPO Registrar
- KFin Technologies Private Limited.