NEW YORK – Loeb & Loeb advised its client Amira Nature Foods, Ltd, a leading global provider of Indian specialty rice, in its $90 million initial public offering of ordinary shares at $10.00 per share, with UBS Securities LLC and Deutsche Bank Securities Inc. acting as joint book-running managers, Jefferies & Company, Inc. acting as lead manager, and KeyBanc Capital Markets Inc. acting as co-manager. The shares were listed on the New York Stock Exchange (NYSE) on October 10, 2012 and trade under the symbol “ANFI”. The underwriters have a 30-day option to purchase up to an additional 1,350,000 shares to cover over-allotments.
The deal closed October 15th and the net proceeds of this transaction will be used to help the 97-year-old company invest in a new processing facility and repay indebtedness.
Amira is the 12th Indian company to list on the NYSE. This IPO and listing was completed through a first-of-its-kind transaction involving the IPO of a new offshore parent company at the same time as an Indian operational company was reorganized as an indirect but controlled subsidiary.
With sales in over 40 countries and offices in Dubai, United Arab Emirates, India, Malaysia, Singapore, the United Kingdom, and the United States, Amira has been recognized by the World Economic Forum as one of the world’s 300 fastest growing corporations, and by Planman Marcom as one of the top six food brands in India.
A Loeb & Loeb team including Norwood P. Beveridge, Jr., David C. Fischer, John F. Settineri, Jay Musoff, David J. Levine and Mitchell S. Nussbaum, Chair of the firm's Capital Markets Department, represented Amira in this transaction.
Widely recognized as a leader in representing issuers and underwriters in initial and secondary public offerings, Loeb & Loeb has helped more than 75 international emerging growth private companies go public in the United States.