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Sarveshwar Foods Limited – Mr.Rohit Gputa (MD)

Chennai, February , 2018: Sarveshwar Foods Ltd (‘Sarveshwar’ / ‘Company’), engaged in the business of processing and marketing of branded and un-branded basmati and non-basmati rice in the domestic and international markets now plans to enter the capital market with an initial public offer of 64, 67,200 equity shares of face value ` 10 each for cash at a Price Band of `83/- to `85/- per equity share.

The funds raised through the public issue are proposed to be utilized to Part Finance the Working capital requirement, Invest in Subsidiary- Himalayan Bio Organic Foods Private Limited, meet Issue Expenses and for general corporate purposes.

The equity shares are proposed to be listed on the SME Platform of National Stock Exchange of India Limited (“NSE”). Incidentally Sarveshwar Foods Limited will be the first company from private sector and only the second company from the state of Jammu & Kashmir after Jammu & Kashmir Bank Limited to attain “listed status”.

The Book Running Lead Managers to the Issue are Keynote Corporate Services Limited (KEYNOTE), Small Industrial Development Bank of India (SIDBI), Indian Overseas Bank (IOB) and Asit C. Mehta Investment Interrmediates Limited (ACMIIL). Bigshare Services Private Limited is the Registrar to the issue and Keynote Capitals Limited is acting as the Market Maker.

The Issue is being made through the Book Built Process wherein 50% of the Net Issue shall be available for allocation on a proportionate basis to Retail Investors, and balance 50% of the Net Issue shall be available for allocation on a proportionate basis to Non-Retail Investors, irrespective of the number of specified securities applied for, in accordance with SEBI ICDR Regulations, subject to valid Bids being received at or above the Issue Price. The unsubscribed portion in either category specified above may be allocated to the applicants in the other category.

About Sarveshwar Foods Limited

Sarveshwar Foods Limited, established in 2004 and headquartered in Gummat in Jammu & Kashmir, is primarily engaged in the business of processing and marketing of various types of rice in the domestic and international markets. Company currently operates through two (2) rice milling and processing facilities i.e. at Seora (Unit I) and SIDCO (Unit II).

It is one of the few Indian companies with a presence across the entire “Rice Value Chain”, which includes procurement, storage, milling, sorting, packaging, branding and distribution and has established a formidable brand in the sector.

The Company not only deals with both branded and non-branded rice being grown using both the Conventional as well as Organic method but also deals in other Organic products such as Dry fruits, Pulses, Lentil, Flours, Porridge, Spices, Garam Masalas and Super foods like Chia seeds, Flax seeds, Quinoa seeds, etc.

The Company supplies to the domestic markets such as J&K, Delhi, Telangana, Andhra Pradesh and cities like Chennai and Pune through its 64 distributors across 30 districts with an access to 1,843 retailers. Company also enjoys a strong relationship with many of the world’s largest buyers of basmati rice, allowing for exports to key international markets such as USA, Europe and Middle East

The Company has successfully converted more than 9000 Hectares of conventional agricultural land into “Organic Farming”. These farmers have been issued certifications under National Programme for Organic Production (NPOP) & National Organic Programme (NOP) due to adherence to the standards of organic agricultural methods that are internationally set and regulated by the International Federation of Organic Agriculture Movements (IFOAM). Company is ISO 22000:2005 certified and also holds British Retail Consortium (BRC) & HACCP certifications, valid APEDA registration, and USFDA & GFSI Certification from Costco Wholesale.

Company has benefited from the experience of its Promoter who is actively involved in the operations, marketing, exports and customer relationship and has been instrumental in implementing the growth strategies. Mr. Rohit Gupta, who is also the Managing Director has over twenty (20) years of experience and is the third (3rd) generation in the family in the rice business.

For Six (6) months period ended September 30, 2017 and fiscal 2017, the total revenues on consolidated basis were `2594 million, `4,199 million respectively and net profit after tax as restated were `79.29 million, `129.64 million respectively. Out of the above, the export sales for six (6) months period ended September 30, 2017 and fiscal 2017 were `204 million, `438 million respectively, and the domestic sales were `1,328 million, `3,741 million respectively.

Disclaimer Sarveshwar Foods Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a Red Herring Prospectus with the Registrar of Companies, Jammu & Kashmir. The Red Herring Prospectus is available on the website of the SEBI at www.sebi.gov.in as well as on the websites of the Book Running Lead Managers at www.keynoteindia.net, www.sidbi.net, www.iob.net, www.investmentz.com. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, see the section titled “Risk Factors” on page 16 of the Red Herring Prospectus.

Copies of this announcement are not being made and may not be distributed or sent into the United States, Canada, Australia or Japan. This announcement is not an offer for sale of securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States

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