Farm Peace files draft papers with BSE SME to raise funds via IPO

New Delhi, Oct 6 (PTI) Farm Peace, an integrated contract farming company, on Monday said it has filed preliminary papers with BSE's SME platform to raise funds through an initial share sale.

The initial public offering (IPO) is entirely a fresh issue of 54.24 lakh equity shares with a face value of Rs 10 each, Ahmedabad-based Farm Peace said in a statement.

Proceeds of Rs 23 crore from the fresh issue will be used to fund the incremental working capital requirements of the company and the balance for general corporate purposes.

Established in 2021, Farm Peace specialises in processed-grade potato varieties like Santana, Frysona, Innovators, Lady Rosetta, and Chipsona, and supplies to processing companies for manufacturing french fries, chips, and other potato-based products.

The company manages the entire farming cycle and offers comprehensive support to farmers, including seed selection, soil preparation, irrigation, pest management, and harvesting guidance.

Founder of ride-hailing services provider Meru Cabs Neeraj Vishnukumar Gupta acts as an advisor to Farm Peace Ltd.

On the financial front, the company reported a revenue of Rs 79.24 crore with a profit after tax of Rs 6.66 crore in FY 25.

The company's shares are proposed to be listed on the BSE's SME platform.

Socradamus Capital is the sole book-running lead manager. PTI HG HG BAL BAL