New Delhi : Edible oil and poultry productsmaker Tara Health Foods has sought approval from the capitalmarket regulator, Securities and Exchange Board of India, foran initial public offer of one crore shares.
According to the draft red herring prospectus (DRHP)filed with the SEBI, the Ludhiana-based company is consideringa pre-IPO placement of 10 lakh equity shares with investors.
The company plans to hit the primary market with onecrore equity shares with a face value of Rs 10 each.
Tara Health Foods would utilise the issue proceeds topart finance its expansion plans and to meeting its workingcapital requirements.
It may also consider placement of share to anchorinvestors, the draft paper said.
The company is setting up a new edible oil refining plantapart from expansion of its cattle feed plant.
The issue is being made through 100 per cent bookbuilding process. The shares offered through the IPO would belisted on the Bombay Stock Exchange and the National StockExchange, it added.
Atherstone Capital Markets is the lead book manger of the issue.
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