Manjushree Technopack Files IPO Papers for Rs 3,000 cr

New Delhi, Aug 20 (PTI) Advent International-backed Manjushree Technopack has filed preliminary papers with capital markets regulator Sebi to raise Rs 3,000 crore through an initial public offering (IPO).

The initial share-sale is a combination of a fresh issue of equity shares worth Rs 750 crore and an offer of sale (OFS) of equity shares valued Rs 2,250 crore by AI Lenarco Midco Ltd, according to the draft red herring prospectus (DRHP).

The offer also includes a reservation for a subscription by eligible employees.

The company may consider raising up to Rs 150 crore in a pre-IPO placement round. If such placement is completed, the fresh issue size will be reduced.

Proceeds from the fresh issue to the tune of Rs 500 crore will be used for payment of debt; funding inorganic growth through acquisitions and other strategic initiatives and general corporate purposes.

Founded in 1987, Manjushree Technopack is a one-stop packaging solutions provider with end-to-end capabilities from design to delivery.

Some of the company's customers include Varun Beverages Ltd, Dabur India Ltd, Marico Ltd, Honasa Consumer Ltd, Hershey India Pvt Ltd, Kansai Nerolac Paints Ltd, Pernod Ricard Pvt Ltd, and Parag Milk Foods Ltd.

JM Financial Ltd, Avendus Capital Private Ltd, Citigroup Global Markets India Pvt Ltd, Global Sachs (India) Securities Private Ltd and ICICI Securities Ltd are the book-running lead managers to the issue.