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Our Bureau

Hyderabad , Dec. 7

AMMANA Bio Pharma Ltd has filed a draft letter of offer with the Securities Exchange Board of India for their forthcoming initial public offer (IPO) aggregating Rs 21.66 crore.

The funds from the IPO are to meet the growth plans that include expansion of the existing unit, acquisition of new machinery and setting up of sweet Sorghum project.

In a press release, the company said it plans to manufacture bio-fuel ethanol from `Camel Crop', Sorghum (jowar), at its factory in the Nindra Mandal of Chittoor district in Andhra Pradesh, with a capacity of 90 million tonnes per annum.

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