Kolkata, Nov 15 (UNI) ICL Multitrading India Limited, a diversified business group has

received SEBI nod for an initial public offering (IPO) in November and is getting ready

to open the issue on November 19.

The company through a press conference in Kolkata announced the launch of IPO

on Thursday.

According to the prospectus filed with NSE, ICL Multitrading India Limited will sell

21,00,800 shares through the initial stake sale with each lot having 1600 shares.

The company plans to raise Rs 17,85,68,000 through the IPO. Proceeds of the IPO

will be used in scaling up operations in both Herbal and Food categories. It is introducing

new and innovative products particularly in herbal segments. ICL Multitrading has even

established a cost effective and efficient distribution network over the years and current

business volume can be multiplied only through new products launch.

ICL Multitrading India Limited is the largest group entity under ICL Group with a

standalone turnover of Rs. 28 Crore and a consolidated revenue of Rs. 52 Crore.

The company sells products like spices, tea, herbal products and fabric to its customers.

Owning 35 acres of residential land in prime location in Rampur, UP that values for

Rs 34 Crore, the entity is on expansion mode and scaling up operations in both Herbal

and Food categories. It has even launched online portal for selling herbal products and

additionally has Telesales Centre at Noida for selling herbal products across the country

using it's ecommerce portal www.adiherbal.com.

Sudipta Kumar Biswas, CEO, ICL Multitrading India Limited and Allumnus of IIMA,

said, “ICL Multitrading is zero-debt company and we have grown organically so far. The

listing of equity shares will enhance our brand name and visibility and provide liquidity to

the existing shareholders."

"The listing will also provide a public market for equity shares in India. The company

has reported profits for last many years and the profitability has improved continuously.

The net worth of the company is increasing every year. With maximum of our investors

from Kolkata, we aspire to get a good response with the launch. Last but not the least,

we shall continue to adopt financially prudent approach which will help us grow our

revenue as well as profit," he said.

Adding to it, “Currently, company is on expansion mode and scaling up operations in

both Herbal and Food categories. It has also initiated process to establish Agri-business

operations including producing and distributing vermicompost.”

UNI BM