Aries Agro IPO opens Friday: Price band Rs 120-130/share
Aries Agro’s initial public offer of 45,00,000 equity shares of Rs 10 each at a premium to be decided through 100 per cent book building opens on Friday.
By INDIATIMES NEWS NETWORK |
MUMBAI: Aries Agro’s initial public offer of 45,00,000 equity shares of Rs 10 each at a premium to be decided through 100 per cent book building opens on Friday.
The price band has been fixed at Rs 120-130 per share. The issue closes on December 19. The issue constitutes 34.61 per cent of the company’s diluted post issue paid-up capital.
Aries Agro under the flagship brands ‘Agromin’ and ‘Chelamin’, manufactures five main categories of products--plant multi-micro nutrients, chelated micro-nutrients, specialty soluble nutrients, anti-bacterial products for agricultural use and nutritional products for animals. It has a distribution channel of about 4,700 distributors and a retail touch point of more than 65,000 dealers.
The company’s manufacturing units are located at Bangalore, Mumbai, Hyderabad and Kolkata. It plans to expand by setting up new manufacturing units at Ahmedabad, Lucknow, Medak in Andhra Pradesh and Maharashtra, and also plans to expand its manufacturing capacity to 79,200 TPA from 21,600 TPA.
Aries Agro also proposes to acquire a stake in UAE company, Golden Harvest Middle East, which is setting up a facility in Sharjah for chelated micronutrients with a capacity of 10,800 mt per year.
“Golden Harvest would invest 2 million AED (Rs 245.60 lakh) in another company, Mapco Fertiliser Industries Free Trade Zone, to gain access to the Middle East markets,” said Jimmy Mirchandani, joint managing director, Aries Agro.
The price band has been fixed at Rs 120-130 per share. The issue closes on December 19. The issue constitutes 34.61 per cent of the company’s diluted post issue paid-up capital.
Aries Agro under the flagship brands ‘Agromin’ and ‘Chelamin’, manufactures five main categories of products--plant multi-micro nutrients, chelated micro-nutrients, specialty soluble nutrients, anti-bacterial products for agricultural use and nutritional products for animals. It has a distribution channel of about 4,700 distributors and a retail touch point of more than 65,000 dealers.
The company’s manufacturing units are located at Bangalore, Mumbai, Hyderabad and Kolkata. It plans to expand by setting up new manufacturing units at Ahmedabad, Lucknow, Medak in Andhra Pradesh and Maharashtra, and also plans to expand its manufacturing capacity to 79,200 TPA from 21,600 TPA.
Aries Agro also proposes to acquire a stake in UAE company, Golden Harvest Middle East, which is setting up a facility in Sharjah for chelated micronutrients with a capacity of 10,800 mt per year.
“Golden Harvest would invest 2 million AED (Rs 245.60 lakh) in another company, Mapco Fertiliser Industries Free Trade Zone, to gain access to the Middle East markets,” said Jimmy Mirchandani, joint managing director, Aries Agro.
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