Open Demat Account

Sresta Natural Bioproducts ltd IPO

The Hyderabad-based organic food manufacturer Sresta Natural Bioproducts Ltd has submitted preliminary paperwork to SEBI in order to earn about Rs 500 crore through a first share offering. The initial public offering (IPO) consists of a fresh issue of equity shares worth up to Rs 50 crore and an offer-for-sale by the selling shareholders of up to 70.30 lakh equity shares. Peepul Capital Fund III LLC (up to 22.50 lakh shares); Ventureast Life Fund III LLC; Ventureast Trustee Company (on behalf of the Biotechnology Venture Fund and Ventureast Life Fund III); and Ventureast Life Fund III LLC, Ventureast Trustee Company, who together plan to sell nearly 47.80 lakh shares, are the participants in the OFS. The issue's book-running lead managers are JM Financial and Axis Capital.

With a market share of 29 per cent in the packaged organic food category in FY 2020, Hyderabad-based Sresta Natural Bioproducts is the owner of the most well-known brand, "24 Mantra." It is in the business of buying, processing, producing, selling, and developing organic food products. With a presence in 39 states across Indian Ethnic Stores and Mainstream, it is also one of the top Indian organic food brands in the USA. By 2021, it will also be present in 34 other countries and on major e-commerce platforms like Bigbasket in India. It provides a wide range of shopping essentials, including packaged food, drinks, meal fixings, spices & condiments, and edible oils. The business cultivates the most land for organic farming among B2C organic food firms in India, and it has close contact with farmers in 12 different states. The business has a network of suppliers that consists of 34,516 farmers, 190,610 acres of certified organic land spread across 12 Indian states, 65 vendors/companies, and several aggregators.

Pristine Logistics operates five logistic parks, including rail-linked logistics parks comprising PFTs, ICDs and one dry port operated through subsidiaries.