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Oceanic Foods coming with an IPO to raise Rs 6.50 crore

  • Mar-17-2017
  • 24 Hrs IST

Oceanic Foods is coming out with an initial public offering (IPO) of 10,00,000 equity shares of face value of Rs 10 each for cash at a fixed price of Rs 65 per equity share. The issue will open on March 20, 2017 and will close on March 22, 2017. The shares will be listed on SME platform of BSE.

The company will use the issue proceeds for working capital requirements and general corporate purposes.

The book running lead manager to the issue is Pantomath Capital Advisors, while the compliance officer for the issue is Krishna Adhyaru.

The company’s major revenue is from sale of dehydrated onion and garlic products in various forms like flakes, minced, powder, etc. It also manufactures other dehydrated vegetables like potato, ginger, spinach, coriander, carrot, cabbage, green chilly, etc.