Farm Peace Files Draft Papers with BSE SMEs to raise money via IPO

Farm Peace, an integrated contract farm, said on Monday that it has submitted provisional papers to the SME platform of BSE to raise money through an initial sales sale.

The first public offer (IPO) is completely a new edition of 54.24 Lakh shares with a nominal value of RS 10 each, said in a statement in Ahmedabad -based farm.

The proceeds from RS 23 Crore from the new issue will be used to finance the incremental working capital requirements of the company and the balance for general business purposes.

Farm Peace, founded in 2021, specializes in processed potato varieties such as Santana, Frysona, Innovators, Lady Rosetta and Chipsona, and supplies for processing companies for producing fries, chips and other potato products.

The company manages the entire agricultural cycle and offers extensive support to farmers, including seed selection, soil management, irrigation, pest control and harvest guidance.

Founder of Ride-Hailing Services Provider Meru Cabs Neeraj Vishnukumar Gupta acts as adviser to Farm Peace Ltd.

SOCRADAMUS CAPITAL is the only lead manager of the book.