Unisem Agritech: Seed of Growth with Rs 21.4 Crore IPO

Unisem Agritech, based in Karnataka, has raised over Rs 6 crore from anchor investors ahead of its IPO, which will conclude on December 12. The company, engaged in hybrid seeds development, plans to use the proceeds to enhance operational efficiency and repay debt.

On Tuesday, Karnataka-based Unisem Agritech announced securing more than Rs 6 crore from anchor investors just before its public offering kick-off.

The firm allocated 9.36 lakh equity shares to investors, including Universal Golden Fund and Resonance Opportunities Fund, at Rs 65 per share, raising Rs 6.08 crore.

The Rs 21.4 crore IPO, ending December 12, plans for a fresh issue of 33 lakh equity shares, aimed at meeting working capital needs and repaying debts, with shares to list on BSE SME around December 17.

(With inputs from agencies.)