Advanta India files DRHP with SEBI

Mumbai, Oct 5 (UNI) Advanta India Ltd, a wholly-owned subsidiary of United Phosphorus Ltd, has filed its Draft Red Herring Prospectus with the Securities and Exchange Board of India (SEBI) to enter the capital market with its public offering of equity shares.

Advanta, one of the leading international agronomic seed companies with principal operations in India, Australia, Thailand and Argentina, has proposed to issue 5,057,000 equity shares of Rs 10 for cash at a premium to be decided through the 100 per cent book-building process for listing on both Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), said the company's release.

The company was also considering a pre-issue placement of up to 1,685,600 equity shares with certain investors. It would complete the issuance of such equity shares prior to the completion of the issue.

Headquartered in Bangalore, Advanta is active in the research, production and sales of a range of hybrid cereals and oilseed crops.

Its key crops in India are rice, sunflower, corn, millet, grain sorghum, forage sorghum and mustard.

The Book Running Lead Managers to the Issue are Yes Bank, UBS Securities India and SSKI Corporate Finance.

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