The company has comprehensive range of products span across various brands and categories with more than 90 SKUs as of March 31, 2021, and a presence across the value chain in the fresh, frozen and ambient long shelf life food product categories.
Its business primarily comprises of the (i) packaged foods & beverage; and (ii) dairy and fresh segments.
Packaged foods and beverage segment primarily involves sale of products which include (i) “Frooti” or “Appy” or “B Fizz” or “Appy Fizz” or “Bailley” or “Smoodh” which are licensed to the company, pursuant to various franchisee agreements entered into with Parle Agro Private Limited (“Parle Agro”); and (ii) frozen food under the brand.
Dairy and fresh segment primarily involves (i) sale of pouch milk, pouch curd, ice-cream, set-curd, UHT milk, milkshakes and lassi under the “Metro” and “Keventer” brands; and (ii) sale of bananas under the brand.
The company has a omni-channel distribution model, with a strong distribution network in the East and North East reaching more than 1,60,000 outlets and is also present across modern trade and e-commerce channels. Recently, the company has also commenced distribution of some of their products in the states of Andhra Pradesh, Uttarakhand, Haryana, Madhya Pradesh, Himachal Pradesh, Gujarat, Punjab, Rajasthan and Uttar Pradesh, and the Union territories of Jammu and Kashmir and Chandigarh as well as the National Capital Region.
The company is looking to raise a fresh issue aggregating up to Rs 3,500 million Fresh Issue and an offer for sale of 10, 767, 664 equity shares.
The Net Proceeds from the Fresh Issue are proposed to be utilised towards: (i) Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the company; (ii) Funding capital expenditure requirements of the company; and (iii) General corporate purposes.
ICICI Securities Limited, Axis Capital Limited and JM Financial Limited are the BRLMs to the Issue.
The equity shares are proposed to be listed on BSE and NSE.