Freshara Agro Exports IPO

Freshara Agro Exports Limited, formerly known as Freshara Picklz Exports, was established in 2015 and procures, processes and exports preserved Gherkins and other pickled goods from India to various countries across the world. Under a contract farming program, the company exports raw produce from local farmers in Tamil Nadu, Karnataka, and some parts of Andhra Pradesh. 70% of the produce is "not ready-to-eat" and is supplied directly to factories for further processing and conversion into finished products. The remaining 30% is supplied to food brokers and traders in the international market. The company's products include gherkins, baby corn, jalapenos, and other pickled vegetables. As of March 31, 2024, the company processes and exports pickled vegetables in 3 different packaging categories. The details of the 3 packaging categories: 1) Industrial packaging in food grade drums and pails; 2) Food packaging in plastic buckets and tin cans; and 3) Retail packaging in glass jars and tin cans. The company is accredited by a number of leading organizations, including the Food Safety and Standards Authority of India (FSSAI), the United States Food & Drug Administration (FDA), Star-K Kosher, Agricultural and Processed Food Products Export Development Authority (APEDA), International Featured Standards, Brand Reputation through Compliance Global Standard (BRCGS). Competitive strengths: Good relationships with contract farmers and other suppliers ensure the availability of raw materials in the off-season Supporting an efficient supply chain enables the company to maintain long-term and intensive customer relationships Quality assurance and control of product quality, which has earned the company various awards and accreditations Advanced in-house processing facilities with a focus on cost competitiveness A comprehensive product portfolio that enables the company to serve its customers around the world Proven financial performance and a scalable business model Experienced promoter and management team As of September 30, 2024, the company had a total of 135 employees.

The Company proposes to utilize the funds which are being raised towards funding the following objects: To meet the Capital Expenditure; Funding the working capital requirements of the company; To meet the General Corporate Purposes; and To meet the Issue Expenses.

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