Paramesu Biotech files Rs 600 crore IPO papers with Sebi
Unimark Business Solutions Private Ltd, according to the Draft Red Herring Prospectus (DRHP) filed on Thursday.
Proceeds from the fresh issue worth Rs 330 crore will be used for setting up a new plant of 1,200 TPD (tonnes per day) in Madhya Pradesh, Rs 85 crore for payment of debt and the rest towards general corporate purposes.
The company is equipped with a current installed capacity of 800 TPD.
With a high capacity utilisation rate of 93 per cent in FY 2024.
Paramesu Biotech is one of the largest manufacturers of maize-based speciality products in India. The diversified product portfolio includes native maize starch, modified maize starches, liquid glucose, maltodextrin powder, and co-products such as germs, gluten, fiber, corn steep liquor and enriched fiber, among others.
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