NEW DELHI, Aug 22: Hyderabad-based Gemini Edibles & Fats India (GEF) has filed draft papers with capital markets regulator Sebi to raise funds through an initial public offering.
The initial public offering (IPO) is entirely an offer-for-sale of up to 4.11 crore equity shares by promoters and investors, according to the draft red herring prospectus filed on August 21.
Under the OFS, promoters Alka Chowdhry and Golden Agri International Enterprises Pte Ltd, along with investors Black River Food 2 Pte Ltd and Investment and Commercial Enterprise Pte Ltd will offload their shares.
Since the proposed IPO has no fresh issue component, the company will not receive any proceeds from the offering. The funds raised through the OFS will accrue to the selling shareholders.
Golden Agri International Enterprises is an affiliate of Golden Agri-Resources (GAR), one of the world’s largest, integrated palm oil agribusinesses.
Black River Food 2 Pte is an agriculture fund co-managed by Proterra Investment Partners and Black River Asset Management, while Investment and Commercial Enterprise is a Singapore-based boutique investment and consultancy firm.
GEF is engaged in the trading, processing, manufacturing and marketing of edible oils and specialty fats, and is also expanding into spices and convenience foods.
Its consumer brands include Freedom, Be-Rite and First Klass.
The company is one of the largest regional branded edible oil players in the Indian market with a presence in Southern India and certain states of Eastern India.
GEF is also the largest sunflower oil selling company within the branded market in terms of revenue with a market share of 18 per cent in FY26. It has more than 1,600 distributors, 3 lakh retail outlets and over 60 warehouses and stock points across key markets.
According to a report by TKC, its branded revenue grew at a compound annual growth rate (CAGR) of 20.5 per cent between FY20 and FY25, compared with 10.1 per cent growth for the overall branded edible oil market.
On the financial front, the company’s revenue from operations increased to Rs 12,650 crore in FY26 from Rs 10,755.95 crore in FY25.
The company’s shares are proposed to be listed on the BSE and NSE.
Motilal Oswal Investment Advisors and IIFL Capital Services are the book running lead managers for the IPO. (PTI)
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