Star Agriwarehousing & Collateral Management Limited has filed its draft red herring prospectus (DRHP) with the capital markets regulator, Securities and Exchange Board of India (SEBI) for the initial public offering (IPO,
The company operates as a technology-driven integrated agriculture value-chain service platform. It focuses on a range of essential services including procurement, trade facilitation, warehousing, collateral management and financing solutions. Additionally, it provides a digital marketplace and technology-based value-added data services aimed at increasing efficiency and productivity within the agriculture sector. Through these services, the company aims to streamline operations and support stakeholders across the value chain.
release details
IPO involves issuance of newly priced equity shares Rs 450 crore with offer for sale of 2.69 crore equity shares from existing shareholders.
Claymore Investments (Mauritius) Pte., an indirect wholly-owned subsidiary of Temasek Holdings, is set to become the largest selling shareholder by contributing 11.9 million equity shares to the offer. The promoters will also participate in the offer by selling the remaining 1.5 crore shares.
Currently, promoters hold 88.17 per cent shares of Star AgriWarehousing, while Claymore Investments holds the remaining 11.83 per cent shares.
The company plans to allocate The fresh issue raises Rs 245 crore to meet its working capital needs. moreover, Rs 100 crore will be allocated to strengthen the capital base of its subsidiary Agriwise Finserv. The remaining funds will be used for various general corporate purposes.
The company has demonstrated impressive financial performance in recent years. For FY 2024, consolidated profit saw substantial growth, climbing by 66.6% 44 crores. Revenue also saw significant growth, rising by 41.8% This is Rs 989.3 crore compared to the last financial year. The company achieved a profit of Rs. 50,000 in the first quarter of FY 2025. Revenue of Rs 22.2 crore 338.2 crore, indicating a positive trajectory.
JM FinancialAmbit and Equirus Capital have been strategically appointed as merchant bankers.
Disclaimer: The above views and recommendations are those of individual analysts, experts and broking companies, and not of Mint. We recommend investors to check with certified experts before taking any investment decision.
