SSMD Agrotech's IPO: A New Chapter in Agro-Food Processing

SSMD Agrotech India is launching an IPO to raise Rs 34.09 crore, starting November 25. The funds will be used for working capital, repaying debt, expanding manufacturing facilities, and general purposes. The company's diverse product line includes a variety of agro-food items marketed under several brands.

SSMD Agrotech India, a prominent player in the FMCG and agro-food processing sector, has announced the launch of its Rs 34.09-crore initial public offering (IPO) set to open on November 25. The IPO offers an enticing price range between Rs 114-121 per share.

The public issue encompasses a fresh offering of 28.17 lakh equity shares, with objectives set on financing working capital needs, settling existing debts, and establishing state-of-the-art direct-to-consumer (D2C) dark stores. Additionally, a portion of the capital will aid in setting up new manufacturing units, including a facility dedicated to namkeen production.

Chairman Jaigopal Munjal emphasized the strategic importance of this effort, noting that proceeds will bolster the company's market footprint. Incorporated in 2023, SSMD Agrotech offers an array of agro-food products under brands like Manohar Agro and Delhi Special. The offering will be listed on the BSE's SME platform, with 3Dimension Capital Services as the lead manager.

(With inputs from agencies.)