KN Agri Resources, an integrated, global agribusiness and food company, plans to raise ₹50 crore through an initial public offering and list on the NSE SME Emerge platform.

The company — which has leading FMCG companies such as Adani Wilmar, Cargill India, Bunge India and Ruchi Soya as its clients — will issue 65,84,000 equity share at a price band of ₹71–75 a share. Investors have to apply for a minimum of 1,600 shares and the issue will be open for subscription between March 15 and 17.

KN Agri Resources will use the funds raised for meeting its working capital and general corporate purpose.

The issue will be lead managed by Hem Securities and the registrar to the issue is Link Intime India.

The company has reported a net profit of ₹17 crore on a turnover of ₹595 crore for the first half of the current fiscal.

Agro commodities

KN Agri Resources has a capacity of 375,000 tonnes per annum for solvent extractions, 60,000 tonnes per annum for edible oil refining and 24,000 tonnes per annum for flour milling. It markets its products to around 15 states in India and the majority of its revenue comes from the states of Madhya Pradesh, Gujarat, West Bengal and Maharashtra.

The company has three seed processing units, two oil refineries and one flour mill, located strategically in Madhya Pradesh.

KN Agri Resources offers a wide range of processed and manufactured products including soya de-oiled cake (soya meal), Hipro Soya Meal, soya refined oil, soya crude oil, degummed oil, soya lecithin, acid oil, soya husk, cottonseed oil, refined rapeseed oil and rapeseed de-oiled cake. It also trades in various agro commodities such as maize, gram, pulses, sugar, soybean and wheat.