Gemini Edibles & Fats IPO: Freedom Oils Owner Files DRHP With SEBI
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Hyderabad-based Gemini Edibles & Fats India Ltd. has filed a DRHP with SEBI for an OFS of up to 4.115 crore equity shares. The company reported revenue of ₹12,650 crore and EBITDA of about ₹794 crore in FY26.
Gemini Edibles & Fats India Ltd (GEF), which owns the Freedom, Be-Rite and First Klass brands, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for a proposed initial public offering (IPO).
Inside The Gemini Edibles & Fats India SEBI DRHP
The proposed IPO comprises an offer for sale (OFS) of up to 4.115 crore equity shares. Since the issue is an offer for sale, the shares will be offered by existing shareholders.
Black River Food 2 Pte. Ltd. will offer up to 3.09 crore shares, making it the largest selling shareholder. Investment and Commercial Enterprise Pte. Ltd. will offer up to 61.73 lakh shares.
Alka Chowdhry and Golden Agri International Enterprises Pte. Ltd. will each offer up to 20.58 lakh shares.
Motilal Oswal Investment Advisors Ltd. and IIFL Capital Services Ltd. are the book-running lead managers for the offer. KFin Technologies Ltd. is the registrar of this IPO.
Gemini Edibles & Fats India's Financial Performance
GEF recorded ₹12,650 crore in revenue from operations in FY26. Earnings before interest, taxes, depreciation and amortisation (EBITDA) for the year was approximately ₹794 crore.
The company's branded revenue grew at a 20.5% CAGR between FY20 and FY25. This was higher than the overall branded edible oil market's growth rate of 10.1%.
GEF operates through four business verticals: branded retail consumer, industrial consumer, bulk merchandising, and spices and convenience foods.
Its edible oil range includes sunflower, rice bran, mustard, groundnut, soybean and palm oils. The company also manufactures and sells speciality fats. Its newer businesses include spices and convenience foods.
What Is The Scale Of Gemini Edibles & Fats' Distribution Network?
The company operates three refineries in Andhra Pradesh: one at Krishnapatnam and two at Kakinada. It also has a packaging facility in Cuttack, Odisha.
As of 31 March 2026, its distribution network included 62 warehouses and more than 1,600 distributors and wholesalers. The network served retail outlets across more than 1,000 cities and towns.
The spices business had 270 distributors, with a presence in around 370 towns and two sales locations.
GEF's consumer portfolio includes Freedom, Be-Rite and First Klass. Across its wider network, the company has more than 1,600 distributors, 300,000 retail outlets and over 60 warehouses and stock points across key markets.
The company is now expanding into spices and convenience foods alongside its established edible oils and speciality fats businesses.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
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