Apex Frozen Foods is coming with an initial public offering (IPO) to raise up to Rs 152 crore in a price band of Rs 171-175 per equity share. The issue will open on August 22, 2017 and will close on August 24, 2017. The shares will be listed on the BSE and NSE.
The public issue comprises of fresh issue of 72,50,000 shares and an offer for sale of 14,50,000 shares by promoters. The net proceeds from the issue will be utilised towards the setting up a new shrimp processing unit with a capacity of 20,000 tonnes per annum in Andhra Pradesh and for general corporate purposes. The book running lead managers to the issue is Karvy Investor Services.
Apex Frozen Foods produces and exports aquaculture products. It provides ready-to-cook whiteleg and black tiger shrimps. The company offers its products to food companies, retail chains, restaurants, club stores, and distributors.
