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The corporate’s public challenge consists of a recent challenge of fairness shares aggregating to Rs 100 crore, and a suggestion on the market (OFS) of as much as 30,113,918 fairness shares, the draft pink herring prospectus (DRHP) confirmed.
The OFS contains sale of as much as 77 lakh shares by Arun Purushottam Kelkar, as much as 61.36 lakh shares by Subhash Purushottam Kelkar, as much as 15 lakh shares by Anuradha Arun Kelkar, as much as 25 lakh shares by Nutan Subhash Kelkar, as much as 1.22 crore shares by Somerset Indus Healthcare Fund I Ltd and as much as 73,668 shares by Mayur Sirdesai.
As per market sources, the problem dimension will likely be roughly within the vary of Rs 500-600 crore.
Proceeds from recent issuance will likely be used for debt funds, funding incremental working capital necessities, supporting capital expenditure requirement for increasing an present facility, funding in subsidiary and financing capital expenditure on the present facility and normal company functions.
Based by Arun and Subash Kelkar in 1993, Hexagon Diet began as a micro-nutrient formulations participant, and at present it has moved up the worth chain to develop manufacturers like Pentasure, Obesigo and Pediagold, that are main names within the well being, wellness, and medical vitamin house.
In 2016, offshore non-public fairness agency Somerset Indus Healthcare Fund-I, together with Mayur Anand Sardesai, an advisor and director at Somerset Well being Capital Advisors, had invested Rs 25 crore for a ten per cent stake within the firm.
Hexagon Diet had arrange a buying and selling firm in South Africa in 2019 and has plans to construct a facility there. The corporate can be establishing a manufacturing facility in Uzbekistan that’s anticipated to begin operations by the primary quarter of 2022.
Equirus Capital and SBI Capital Markets are the ebook operating lead managers to the problem.
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