Sita Shree Food Products will list on the bourses with equity shares on April 7, 2008. The company had come out with an IPO in the price band of Rs 27 to Rs 30 a share of Rs 10 each. It had fixed its issue price at the upper band.

The company received moderate response from investors to its initial public offering (IPO), which subscribed 2.44 times.

Credit rating agency, CRISIL had assigned Grade "2/5" to the IPO.

Indore-based, Sita Shree is in the business of wheat and pulse processing. The product portfolio of the company consists of wheat flour, maida, rawa, daliya, suji, chana dal etc. These products are marketed under its own brand like Sita Shree, Regular and Sita Shree Gold.

The company proposes invest the net proceeds of the issue to part finance its Rs 48.12 crores expansion plan.

The plan includes setting up of a solvent extraction plant having 500 TPD capacity, an oil refinery for solvent extraction plant having 100 TPD capacity, a Lecithin plant for processing the by products of solvent extraction plant having 5 TPD capacity, and a flour mill of 275 TPD.

The equity shares are proposed to be listed on BSE and NSE.

Lead manager to the issue was Keynote Corporate Services Limited and Ankit Consultancy Private Limited was the registrar.