Functional & Innovative Foods Limited has submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI), signaling its intent to raise capital through an initial public offering.
The integrated food contract manufacturer plans to offer up to 8,500,000 equity shares to the public.
Proceeds from the offering will be allocated to funding new manufacturing facilities, repaying existing borrowings, and supporting the company’s subsidiary operations.
The filing marks a significant step for the firm, which operates in the diversified product portfolio space, as it seeks to strengthen its balance sheet and expand its production capacity.
The move comes amid a broader uptick in IPO activity within the Indian consumer and retail sectors.
Recent filings include Ratnadeep Retail, which also submitted a DRHP to SEBI to launch its own public offering, highlighting continued investor appetite for listed consumer-facing businesses.