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I.P.O. / Offerings | 30 November 2011

Nuziveedu Seeds Plans To Raise Rs900Cr IPO

by Vivek Singh
Nuziveedu Seeds Plans To Raise Rs900Cr IPO
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Blackstone backed Nuziveedu Seeds Limited is planning to raise Rs900 Cr IPO.

According to Economic Times, the company is planning to do a combination of fresh issue as well as secondary sale early next fiscal and the leading bankers appointed for the proposed issue are Goldman Sachs, JP Morgan, JM Financial and ENAM Securities.

In 2008, Blackstone invested around Rs250Cr in convertible instruments and depending upon the conversion price, Blackstone will have 10-20% stake in the company.

NSL Seeds, the flagship company NSL group is the hybrid seed company in India, engaged in R&D, production and marketing of seeds with market leadership in hybrid cotton seeds and significant presence in other field crops including corn, rice, sunflower, sorghum, pearl millet, and vegetable crops.

In 2009, the company acquired 51% each in Yaaganti Seeds and Pravardhan Seeds for a total consideration of Rs25Cr.

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