New Delhi, March 27 -- Chamelidevi Flour Mills Limited is an agro-processing company engaged in the manufacturing of wheat-based food products, including atta, maida, rawa, suji, and bran, and has received approval for its Draft Red Herring Prospectus (DRHP), marking a significant step toward its initial public offering (IPO).

The company plans to issue 58,20,000 equity shares with a face value of Rs.10 each, which will be a complete fresh issue. The company proposes to utilise the proceeds from the issue towards setting up an additional facility for chakki atta, as well as a manufacturing facility for Daliya and Kesariya Rawa/Suji, along with a storage silo.

The remaining funds are proposed to be used for working capital requirements a...