He said this will make Sarveshwar Foods Limited the first company from the private sector and only the second company from the state, after Jammu and Kashmir Bank Limited, to attain listed status.
The equity shares are proposed to be listed on the SME platform of National Stock Exchange of India Limited (NSE).
"The funds raised through the public issue are proposed to be utilised to part finance the working capital requirement, invest in subsidiary - Himalayan Bio-Organic Foods Private Limited, meet issue expenses and for general corporate purposes, Gupta said.
He said said it was a historic occasion for the state and a happy news
as it will increase the equity interest here.
The company is primarily engaged in the business of processing and marketing of various types of rice in the domestic and international markets.
It is one of the few Indian companies with a presence across the entire "rice value chain", which includes procurement, storage, milling, sorting, packaging, branding and distribution and has established a formidable brand in the sector.
The company not only deals with both branded and non-branded rice being grown using both the conventional as well as organic method, but also deals in other organic products such as dry fruits, pulses, lentil, flours, porridge, spices and superfoods like chia seeds, flax seeds and quinoa seeds.
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