Golden Agri-Resources' India IPO has possible growth potential

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).