Amira Nature Foods sets IPO price range at $13-$15 per share
Sept 27 |
Sept 27 (Reuters) - Amira Nature Foods Ltd said it expects to sell nine million ordinary shares for between $13 and $15 each in its initial public offering.
At the mid-point of the expected price range, the IPO will raise $126 million. Amira expects to receive $113 million, after deducting underwriting commissions and offering expenses.
Amira sells packaged Indian specialty rice in over 40 countries. It generates majority of its revenue from the sale of basmati rice, the company said in the filing.
UBS Investment Bank and Deutsche Bank Securities are lead underwriters to the offering.
The Dubai-based company plans to use about $110 million of the proceeds to fund the purchase by Amira Mauritius of equity shares of Amira India pursuant to the share subscription agreement.
The company, which filed for its IPO last month, plans to list its ordinary shares on New York Stock Exchange under the symbol "ANFI."
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