Integrated fresh-fruit supply chain company MKC Agro Fresh has filed draft papers with capital markets regulator SEBI for its proposed initial public offering (IPO).
The IPO will comprise a fresh issue of up to 99.99 lakh equity shares and an offer for sale (OFS) of up to 68.12 lakh shares by existing shareholders, according to the Draft Red Herring Prospectus filed last week.
Proceeds from the fresh issue will be used for repayment or prepayment of certain borrowings and general corporate purposes, the draft papers noted.
MKC Agro Fresh operates an integrated fresh fruit supply chain through a tree-to-table business model, with operations spanning procurement from farmers, sorting, grading, waxing, ripening, controlled-atmosphere storage, processing, logistics and distribution.
Headquartered in the Delhi-NCR region, the company's product portfolio covers over 15 fruit categories, including apples, oranges, mangoes, grapes, kiwis and bananas.