Jeyyam Global Foods' IPO to be out on Sept 2, seeks to raise Rs 80-82 cr
Jeyyam Global Foods Ltd, manufacturers and involved in processing and supply of Bengal gram (Channa), fried gram, would come out with their Initial Public Offering on September 2 as it plans to raise Rs 80-Rs 82 crore to fuel its expansion plans, an official said on Saturday.
The city-headquartered company would utilise the funds to be raised for its foray into business to consumer (B2C) segments, capital expenditure besides, widening product portfolio, Shrreyans Mehta, a member of the Group said here.
"We have identified 99 clusters across India to procure the fried gram, polished channa and we will be doing the cleaning and grading at the place of procurement..We will also be launching soya chunks and vermicelli," he told reporters on their future plans.
From the funds to be raised, he said, the company would set up three manufacturing units, one each in Latur, and Nanded in Maharashtra and the third facility at Indore, Madhya Pradesh.
"We will be scaling up the production of fr