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With the markets doing well, Nuziveedu Seeds Ltd (NSL) is likely to go for a public issue in a time frame of 6-12 months.
The company planned to go public four years ago but shelved the plan keeping in view the sluggish market conditions. “The outlook for agriculture is good. There are prospects of having good production in the next season. The firm sees this an opportune time to tap the markets,” an industry source said.
“It may not happen in the next month or two but in all probability it would go for the initial public offering in the current financial year,” the source said.
A company spokesperson refused to give a timeline for filing papers or the quantum of amount to be raised.
NSL is a major seed player in the ₹10,000-crore industry with a leadership in the cotton seeds.
Blackstone’s investment The Hyderabad-based firm had received investments of about ₹200 crore from the global player Blackstone in its seed business six years ago.
Unlike some of its competitors, Nuziveedu Seeds had chosen to invite a financial player, and not another firm, which has interests in the seed business.
This investment mobilisation and separation of seed business is being done to have more focus on the seed business. It will also have adequate capital for the planned growth in seed business in the future. The firm had indicated at that time that part of the investments might be utilised for the capital requirements of some projects in some of the group firms.
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