SD International files draft papers with SEBI to raise funds via IPO

According to fresh market updates, Food packaging solutions provider S D International Ltd has filed preliminary papers with capital markets regulator SEBI to mobilize funds through an initial public offering (IPO).

The proposed IPO comprises a fresh offering of up to 1.30 crore equity shares and an offer-for-sale (OFS) of up to 35 lakh equity shares by a promoter, bringing the total offer size to up to 1.65 crore shares, according to the draft red herring prospectus (DRHP) filed on Monday.

Proceeds from the fresh offering will be used for debt payment, purchasing equipment and machinery and general corporate purposes.

S D International, based in Gorakhpur, Uttar Pradesh, is engaged in the manufacturing of semi-rigid and rigid food packaging products. Its products are used across various end-use segments, including takeaway and food-service establishments, dairy, sweets and confectionery, bakery, branded food products and agro-based produce.

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Valmiki Leela Capital is the sole book-running lead manager of the offering, while KFIN Technologies is the registrar.

Shares of the firm will be listed on the NSE and BSE.