Hyderabad-based Gemini Edibles & Fats India Ltd files draft prospectus for a Rs 2,500 crore IPO, primarily an offer for sale by existing shareholders, highlighting renewed market confidence despite profit challenges and regulatory delays.
Gemini Edibles & Fats India Ltd has returned to the primary market with a draft prospectus for a proposed initial public offering that is entirely an offer for sale by existing shareholders. According to the draft papers, the issue could involve up to 41.15 million shares, with no new capital going to the company itself. The move follows an earlier attempt to access the market that was later placed in abeyance by regulators, and the latest filing suggests shareholders are again seeking an exit route rather than funding a fresh expansion round.
The Hyderabad-based company is best known for its Freedom sunflower oil brand, but its business stretches beyond edible oils into specialty fats, with ambitions in spices and convenience foods. Company disclosures say it has more than 1,600 distributors, about 300,000 retail outlets and over 60 warehouses and stock points, giving it a wide distribution footprint across key southern and eastern markets. Business News Chronicle reported that the company serves an estimated consumer base of 318 million people.
Gemini’s sales scale has grown sharply, but profitability has moved less smoothly. The draft prospectus shows revenue from operations rising to Rs 12,650 crore in FY26 from Rs 10,756 crore in FY25, even as profit after tax fell to Rs 597 crore from Rs 817.9 crore. EBITDA also declined over the same period, according to the filing. The company said its operating cash flow remained strong at Rs 704.95 crore in FY26, and its debt-to-equity ratio stayed relatively low at 0.23, compared with 0.18 a year earlier.
The offering is dominated by existing investors and founders, including Black River Food 2 Pte Ltd, Investment and Commercial Enterprise Pte Ltd, Alka Chowdhry and Golden Agri International Enterprises. Earlier reporting by The Economic Times and Times of India said Gemini had planned to raise Rs 2,500 crore in its previous IPO attempt, which was later put on hold by the regulator. For investors, the latest filing offers a picture of a company with strong brand reach and cash generation, but also one navigating margin pressure in a volatile edible oils market.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
