Gemini Edibles & Fats India Ltd (GEF) has resubmitted its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its proposed initial public offering. According to reports from The Economic Times, the Hyderabad-based edible oil company's IPO will comprise an Offer for Sale (OFS) of up to 4.11 crore equity shares by existing shareholders. This marks a renewed effort to go public after a previous attempt in 2021 was put on hold by the market regulator. The company is headquartered in Hyderabad and is engaged in the trading, processing, manufacturing and marketing of edible oils and specialty fats, with recent expansion into spices and convenience foods. As reported by The Economic Times, since the proposed IPO has no fresh issue component, the company will not receive any proceeds from the offering, with funds raised through the OFS accruing to the selling shareholders. The DRHP was filed on August 21, 2026.
For financial year 2025-26 (FY26), GEF reported revenue from operations of ₹12,650 crore, representing an increase from ₹10,755.95 crore in FY25, as reported by The Economic Times. The company's earnings before interest, taxes, depreciation and amortisation (EBITDA) of approximately ₹794 crore for FY26. As reported by CNBC TV18, the company's branded revenue demonstrated strong growth with a compound annual growth rate (CAGR) of 20.5% between FY20 and FY25, significantly outpacing the overall branded edible oil market growth rate of 10.1% during the same period. The company's shares are proposed to be listed on the BSE and NSE.
GEF operates through an extensive distribution network comprising 62 warehouses and more than 1,600 distributors and wholesalers as of March 31, 2026, reaching retail outlets across more than 1,000 cities and towns. According to The Economic Times, the company has more than 3 lakh retail outlets and over 60 warehouses and stock points across key markets. The company has three refineries in Andhra Pradesh—one in Krishnapatnam and two in Kakinada— and a packaging facility in Cuttack, Odisha. As reported by The Economic Times, GEF is one of the largest regional branded edible oil players in the Indian market with a presence in Southern India and certain states of Eastern India. The company has recently ventured into spices and convenience foods, aiming to diversify its revenue streams. The spice company comprises two sales facilities, 270 distributors, and a presence in about 370 localities.
GEF's consumer brands include Freedom, Be-Rite and First Klass, with the company maintaining a strong market presence across multiple product categories. As reported by The Economic Times, GEF is the largest sunflower oil selling company within the branded market in terms of revenue with a market share of 18% in FY26. The company's edible oil portfolio includes sunflower, rice bran, mustard, groundnut, soybean and palm oils, while it also manufactures and markets specialty fats. The company operates across four business verticals covering branded retail consumer, industrial consumer, bulk merchandising, and spices and convenience foods. The company's shares are proposed to be listed on the BSE and NSE.
The selling shareholders include Alka Chowdhry, Golden Agri International Enterprises Pte. Ltd., Black River Food 2 Pte. Ltd. and Investment and Commercial Enterprise Pte. Ltd., with specific allocation details showing Black River Food 2 offering up to 3.09 crore shares, followed by Investment and Commercial Enterprise with up to 61.73 lakh shares, while Alka Chowdhry and Golden Agri International Enterprises will each offer up to 20.58 lakh shares. As reported by The Economic Times, Golden Agri International Enterprises is an affiliate of Golden Agri-Resources (GAR), one of the world's largest, integrated palm oil agribusinesses. Black River Food 2 Pte is an agriculture fund co-managed by Proterra Investment Partners and Black River Asset Management, while Investment and Commercial Enterprise is a Singapore-based boutique investment and consultancy firm. Motilal Oswal Investment Advisors Limited and IIFL Capital Services Limited are serving as book-running lead managers, while KFin Technologies Limited is the registrar to the offer.
