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 R&D 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), together planning to sell 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 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 on certain outstanding secured or unsecured borrowings.
- General corporate purposes.
Sresta Natural Bioproducts IPO Promoters
RAJASHEKAR REDDY SEELAM.
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 has 10% of the net offer under the Retail Category, 75% of the net offer under the QIB category, and 15% of the net offer for the NII category.
JM Financial Limited Axis Capital Limited is the Book Running Lead Manager(s) and KFin Technologies Private Limited is its registrar.