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The city-based biscuits maker, Anmol Industries, has received approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO).
The company, which is into biscuits, cake and cookie manufacturing, plans to go public with an offer for sale of up to Rs 750 crore by Baijnath Choudhary & Family Trust (Rs 720 crore), SKG Land Developers (Rs 22 crore), Delta Nirman (Rs 4 crore), Anmol Hi-Cool (Rs 2.5 crore) and Puneet Mercantiles (Rs 60 lakh).
The company had filed the draft red herring prospectus (DRHP) in June 2018. Edelweiss Financial Services, ICICI Securities and Motilal Oswal Investment Advisors are the book running lead managers for the issue.
As per the DRHP filed by the company, for the nine-month period ended December 2017, its total income was close to Rs 858 crore and the net profit was around Rs 62 crore. For the financial year 2016-17, the company had posted a total income of Rs 1,240 crore and a net profit of around Rs 72 crore.
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