Usher Agro To Raise Rs 100 Cr QIP
Usher Agro has announced to raise upto Rs 100 Cr through QIP inorder to modernize its processing plant in Buxar, Bihar and to expand its existing rice mill.
The funds will also be used to build a Silos Complex for grain storage at its plant at Chhata in Mathura, expansion of its wheat milling capacity at Mathura and for its working capital needs.
Transaction Reference: Indiainfoline
Incorporated in 1996, Mathura-based agro-food processing company, Usher Agro Ltd is engaged in the business of rice milling and wheat flour milling. UAL products are marketed under umbrella brand, 'Rasoi Raaja'. Its products are sold in Maharashtra, Gujarat,Uttar Pradesh and Bihar.
UAL is planning to increase its existing 252,000 TPA rice milling capacity by 291,600 TPA at a cost of Rs 80 Cr.
It is also planning to set up a 1.00 MW captive power plant at Buxar-Bihar.
For Q4 2010, UAL reported a turnover of Rs 90.52 Cr with a net profit of Rs 6.42 Cr for the same period.
In the agro space, Sanwaria Agro Oils is also planning to raise Rs 235 Cr to fund its expansion plans.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 16/07/10 | Usher Agro - QIP | IPO / Offerings | Looking For | 21.40 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 20/01/12 | IPO / Offerings | Hindusthaan Eco Ventures Limited | - | Planned | |
| 16/01/12 | M&A | Malabar Trading Company Limited | Protect Nature Private Limited | - | Completed |
| 09/01/12 | IPO / Offerings | Octant Industries Limited | 2.48 | Announced | |
| 04/01/12 | IPO / Offerings | Vishwanath Sugar And Steel Industries Limited (Formerly Vishwanath Sugars Limited) | 70.34 | Announced |
Company |
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| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Usher Agro Limited | V. K. Chaturvedi Manoj Pathak |
212, Laxmi Plaza, Laxmi Ind. Estate, New Link Road, Andheri (W), Mumbai - 400053. |
REI Agro Limited Agro Tech Foods Limited Himalya International Limited |
www.usheragro.com |
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