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29-Sep2018

Narmada Bio-Chem files DRHP with SEBI for IPO

Narmada Bio-Chem has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The IPO comprises a fresh issue of upto 54 lakh shares and an offer for sale of upto 18 lakh shares by Narmada Organics.

The funds will be utilized towards funding the working capital requirements and general corporate purposes. Pantomath Capital Advisors is the sole book running lead manager to the issue. The company's shares are proposed to be listed on the BSE and NSE.

Narmada Bio-Chem is engaged in manufacturing of various types of chemical and organic fertilizers. It also trades in chemical compounds and organic fertilisers.


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