KN Agri Resources to raise ₹50 crore via IPO and list on NSE SME Emerge platform.

KN Agri Resources to raise ₹50 crore via IPO and list on NSE SME Emerge platform.

KN Agri Resources, an integrated global agribusiness, and food company intend to raise Rs 50 crore through an IPO and list on the NSE SME Emerge platform.

NSE’s SME platform: Small and medium-sized businesses with great development potential should use the Exchange’s SME platform. SMEs with a post-issue paid-up capital of less than or equal to Rs. 25 crores will be eligible to use the Exchange’s SME platform.

The company, which has clients including Adani Wilmar, Cargill India, Bunge India, and Ruchi Soya, would issue 65,84,000 equity shares at a price range of Rs 71–75 per share. Investors must apply for a minimum of 1,600 shares, and the issue will be open for subscription from March 15 to March 17.

The funds raised will be used for working capital and other corporate purposes by KN Agri Resources. Hem Securities will lead manage the offering, and Link Intime India will serve as the registrar.

For the first half of the current fiscal year, the company achieved a net profit of Rs 17 crore on a turnover of Rs 595 crore. Also Read | India permitted refined palm oil imports till December 31, 2022.

Agricultural products

KN Agri Resources has a solvent extraction capacity of 375,000 tonnes per year, an edible oil refining capacity of 60,000 tonnes per year, and a flour milling capacity of 24,000 tonnes per year. It sells its products in about 15 Indian states, with the majority of its earnings coming from Madhya Pradesh, Gujarat, West Bengal, and Maharashtra.

Three seed processing factories, two oil refineries, and one flour mill are strategically positioned in Madhya Pradesh.

KN Agri Resources’ processed and manufactured products include soya de-oiled cake (soya meal), Hipro Soya Meal, soya refined oil, soya crude oil, degummed oil, soya lecithin, acid oil, soya husk, cottonseed oil, refined rapeseed oil, and rapeseed de-oiled cake. It also deals in a variety of agricultural commodities such as maize, gramme, legumes, sugar, soybeans, and wheat.