Sandhya Marines files DRHP with SEBI

Sandhya Marines

 

Sandhya Marines Limited, one of the growing product-focused company that exports a range of value-added frozen seafood products, filed its Draft Red Herring Prospectus (DRHP) with the market regulator SEBI seeking permission for its Initial Public Offering (IPO).

The IPO comprises of a fresh issue of up Rs. 3000 mn and an offer for sale of up to 12,600,000 equity shares by Dr K. V. Prasad, Ms K Suryanarayanamma, K Anand Kumar and K. Arun Kumar in their capacity as sellers of the equity shares herein After referred to as (Selling Shareholders).

The equity shares will have a face value of Rs 10 and the price band will be decided in consultation with the Book Running Lead Managers (BRLMs).

The Net Proceeds from the Issue will be utilised towards Setting up of a new shrimp processing unit; Setting up of a new aqua-feed mill facility; Setting up of a new corporate office; Repayment / Pre-payment, in full or part, of certain indebtedness; and General corporate purposes.

Karvy Investment Banking and SBI Capital Markets are the book running lead managers to the issue and Karvy Computershare Private Limited is the Registrar.