According to the company’s DRHP, the proposed issue will comprise the issuance of fresh 43.22 lakh equity shares, with a face value of Rs 10 each.
The Kolkata-based food and beverage company will launch its IPO on the ‘emerge’ platform of the National Stock Exchange (NSE), the platform for MSME companies to raise funds.
The net proceeds from the issue will be utilized for funding its growth plans, including setting up additional manufacturing units in West Bengal and expanding the product range to eastern and northeastern states in the country.
Incorporated in 2016, Annapurna Swadisht operates over 35 SKUs ranging from extruded snacks to pellet-based snacks to potato snacks to ‘namkeens’ to candies and cakes. The company has two manufacturing facilities in West Bengal. It has a network of around 400 distributors.
The company recently forayed into the direct-to-consumer (D2C) segment with the Olonkar range of products and has tied up with Big Basket for distribution.
Corporate Capital Ventures has been appointed as the sole lead manager for the issue, whereas Skyline Financial Service is the registrar to the issue.
