New Delhi: Integrated fresh-fruit supply chain company M K C Agro Fresh Ltd has filed its Draft Red Herring Prospectus (DRHP) with markets regulator Sebi to launch an Initial Public Offering (IPO).
According to the draft papers filed last week, the M K C Agro Fresh IPO will comprise a fresh issue of 99.99 crore equity shares and an Offer for Sale (OFS) of 68.12 lakh shares by existing shareholders.
How Will IPO Proceeds Be Used?
The company plans to use proceeds from the fresh issue for repayment or prepayment of certain outstanding borrowings. A portion will also be deployed towards general corporate purposes.
M K C Agro Fresh follows an integrated tree-to-table fresh fruit supply chain model, covering procurement from farmers, sorting, grading, waxing, ripening, processing, storage, logistics and distribution.
Headquartered in Delhi-NCR, the company handles more than 15 fruit categories, including apples, oranges, mangoes, grapes, kiwis and bananas.
Expanding Cold Storage and Processing
M K C Agro Fresh operates a 5,756-metric-tonne controlled-atmosphere cold-storage facility in Greater Noida, supporting its fruit storage and distribution operations.
The company is also setting up a 500-metric-tonne-per-day frozen concentrated orange juice facility at Bargaon, Warud, in Maharashtra's Vidarbha region.
The Maharashtra government has accorded the facility ‘Mega Project’ status. Commercial production is expected to begin by March 31, 2027, according to the DRHP.
The proposed project is expected to strengthen the company's presence in fruit processing alongside its existing fresh produce supply-chain business.
Narnolia Financial Services is the book-running lead manager for the IPO, while Bigshare Services has been appointed registrar to the issue.
