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Dealipedia - Amira Nature Foods announces IPO

Amira Nature Foods announces IPO

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Deal Participants:
IPO Company: Amira Nature Foods View Profile Charts Homepage
Deal Financials:
Total Cash Raised : $100 million
 

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Date:
Announced/Filed: Aug 30, 2012

Notes:

Amira Nature Foods Ltd. filed plans for an initial public offering of up to $100 million in ordinary shares as the Indian specialty rice company looks to raise funds to develop a new processing facility and repay debt.

Amira derives most of its revenue through the sale of basmati rice, a long-grain rice grown only in certain regions of the Indian subcontinent, under its flagship Amira brand and other, third-party brands. The company also offers products such as ready-to-eat snacks and sells bulk commodities to large international and regional trading firms.

According to a filing with the Securities and Exchange Commission, all of the company's operations will be conducted through Amira India, its principal operating subsidiary, after the close of the offering. The company expects to control Amira India through its wholly owned subsidiary Amira Mauritius.

The company plans to use proceeds from the IPO to fund Amira Mauritius's purchase of equity shares of Amira India. Proceeds received by Amira India will be used to develop a new processing facility, repay debt and for working capital and other general corporate purposes. Any remaining proceeds will be used to fund the company's future operating expenses.

For the year ended March 31, Amira Nature Foods' earnings jumped 86% to $11.9 million as revenue climbed 29%.

The company has applied to list its shares on the New York Stock Exchange under the symbol ANFI.

Deal Links:
Note
Banking Representation:
IPO Lead Underwriter: UBS and Deutsche Bank
Legal Representation:
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Aug 31 '12
This version submitted by howmania

 

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