The initial public offer (IPO) will see sale of up to 37,51,499 equity shares, amounting to 37.5 per cent stake in the company, by Renuka Ramnath-led private equity firm Multiples Alternate Asset Management (Multiples PE) and promoters, draft papers filed with Sebi showed.
Multiples PE will sell 22.5 per cent, while promoter will divest 15 per cent holding in the company.
According to merchant banking sources, the public issue is expected to fetch Rs 500 crore.
Through the IPO, the company looks to achieve the benefits of listing the shares on stock exchanges and facilitate the sale of shares by the shareholders.
As on March 31, 2018, the company's net worth was Rs 105.5 crore.
Milltec is a leading agro-processing equipment manufacturer in the country, with sales and distribution network in India and overseas. Its portfolio includes equipment to facilitate the processing of rice, pulses, wheat, seeds, and maize.
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