Print Edition - 2017-09-27  |  Money Digest

Godrej Agrovet to raise up to $177.6m in IPO

- Reuters, MUMBAI

Sep 27, 2017-

India’s Godrej Agrovet Ltd has set a price range of IRs450-460 a share for its initial public offering to raise up to IRs11.6 billion ($177.6 million), according to a public notice on Tuesday. The animal-feed producer is selling new shares worth up to IRs 2.92 billion in the IPO, while its main shareholder Godrej Industries is selling secondary shares of up to 3 billion rupees. A unit of Singapore’s Temasek Holdings will sell up to 12.3 million shares, which at the upper end of the price range would be worth IRs 5.66 billion. Kotak Investment Banking, Axis Capital and Credit Suisse are the banks managing the IPO that runs October 4—October 6. 

Published: 27-09-2017 10:06

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