Functional and Innovative Foods Limited has taken a significant step towards entering the capital markets by filing a Draft Red Herring Prospectus with the Securities and Exchange Board of India (SEBI). The company is preparing for a Mainboard book-built initial public offering (IPO) that includes the fresh issuance of 6,500,000 shares and an Offer for Sale comprising 2,500,000 shares. The total offer size is projected to exceed ₹90 crore.
Guiding this pivotal transaction, Legacy Law Offices has played an advisory role for Functional and Innovative Foods. The law firm also provided counsel to the Selling Shareholder, Senthil Kumar, and the Book Running Lead Manager, Beeline Capital Pvt Ltd, throughout the process of this Mainboard IPO.
The transaction team from Legacy Law Offices was spearheaded by Managing Partner Gagan Anand and Co-Managing Partner Shalini Munjal, who also chairs the General Corporate practice. Their leadership was instrumental in navigating the legal intricacies of the IPO process.
About Functional & Innovative Foods
Based in Tiruchengode, Functional and Innovative Foods Ltd is renowned for its comprehensive capabilities in food contract manufacturing. The company boasts a diverse range of products, including Ready-to-Eat and Ready-to-Cook offerings, staples, sugar alternatives, spices, and other fast-moving consumer goods (FMCG). This impressive portfolio caters to a wide B2B customer base, which includes both emerging consumer brands and established industry giants.
Notable clients of Functional and Innovative Foods include Slurrp Farm, The Whole Truth, Urban Platter, Big Basket, Kelloggs India, Millet Bank, and Marico. These partnerships underscore the company’s strong market presence and its ability to meet the demands of both new and established players in the FMCG sector.
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