According to the DRHP, Mandala Swede SPV holds 6.16 per cent stake in the Kolkata-based Keventer Agro Limited.
In the DRHO, the company said (OFS) includes 15.35 million compulsory convertible preference shares, which will be converted up to a maximum of 9.15 million shares prior to the filing of the red herring prospectus with the RoC, solely for the purpose of the offer.
The company added that it may raise Rs 50 crore via pre-IPO placement, which will reduce the size of fresh equity in the issue.
The net proceeds from the issue will be used to repay debt worth Rs 155 crore and Rs 110.76 crore will be utilised for funding capital expenditure requirements.
Keventers Agro is a leading FMCG player active in the package, dairy and fresh food segment. It has a presence across the value chain in the fresh, frozen and ambient long shelf life food product categories.
The company has franchised agreement with Parle Agro manufacturing, filling, packing, selling and distributing of franchised products. Its franchised brands include Frooti, Appy, Appy Fizz and Bailey. It also sells frozen food, UHT milk, milkshakes and bananas under the Keventer brand.
The company has appointed ICICI Securities, Axis Capital and JM Financial as the book running lead managers (BRLMs) to the issues. Link InTime India is the registrar to the issue.
