Star Agriwarehousing and Collateral Management, which is backed by Temasek, has submitted preliminary papers to SEBI for an IPO to raise Rs 450 crore. The funds will be used for the company's working capital needs.
Star Agriwarehousing specializes in agricultural marketing and provides services such as procurement, trade facilitation, warehousing, collateral management, financing solutions, and technology-based data services.
The IPO will consist of a fresh issuance of equity shares worth Rs 450 crore, as well as an offer-for-sale of 2.69 crore equity shares by existing shareholders. The largest selling shareholder in the offer-for-sale will be Claymore Investments (Mauritius) Pte, a subsidiary of Temasek Holdings, which will sell 1.19 crore equity shares. The remaining 1.5 crore shares will be sold by the company's promoters.
Star Agriwarehousing and Collateral Management is seeking to raise funds through the IPO to support its working capital needs. The company specializes in agricultural marketing and offers a range of services including procurement, trade facilitation, warehousing, collateral management, financing solutions, and technology-based data services.