Golden Agri-Resources' India IPO has possible growth potential

Uma Devi

Published Mon, Aug 16, 2021 · 05:50 AM

Singapore

SHARES of Golden Agri-Resources have not enjoyed much of a boost since the palm oil supplier announced plans to list its Indian subsidiary on both the Bombay Stock Exchange and National Stock Exchange of India.

The company had announced on the morning of Aug 8, a Sunday, that it could get 7.5 billion rupees or about US$100 million (S$136.9 million) from the initial public offering (IPO) of its 56.3-per-cent-owned subsidiary Gemini Edibles & Fats India (GEF).

GEF, which is incorporated in India, is engaged in the manufacturing, distribution and branding of edible oils and specialty fats. Its product portfolio includes sunflower oil, rice bran oil, as well as specialty fats f…