The initial public offering (IPO) of Apex Frozen Foods, based in Kakinada would open for subscription on August 22.

The company has offered to sell 8.7 million equity shares of face value of Rs 10 each at a price band of Rs 171-Rs 175 per share, thereby, aggregating a net sum of around Rs 148.77 crore-Rs 152.25 crore.

The offering involves the fresh issue of 7.25 million shares and an offer for sale of 1.45 million shares by the promoters. The company proposes to utilise the net proceeds to establish a new shrimp processing unit with a proposed capacity of 20,000 tonnes per annum in Andhra Pradesh.

In the financial year 2016-17, Apex Frozen Foods registered a total revenue of Rs 709.68 crore.

Apex Frozen Foods is one of the integrated producer and exporter of shelf stable quality aquaculture products. Apex Frozen Foods supply our ready-to-cook products to a diversified customer base consisting of food companies, retail chains, restaurants, club stores and distributors spread across the developed markets of USA, UK and various European countries.

Apex Frozen Foods operates out of Andhra Pradesh, which is the most favorable state in India for aquaculture business. His integrated operations span across our hatchery and farming on 1,032 acres of land and currently processing of approximately over 9,240 MTPA of finished products at our facility located at Kakinada. Apex Frozen Foods facility is approved by the Export Inspection Council for export to all countries excluding Australia and Custom Union. Our facility is also certified with BRC Food Grade, Best Aqua Culture Practices, HACCP and ASC.

Board of directors

  • Karuturi Satyanarayana Murthy, aged 61 years, is the Chairman and Managing Director
  • Karuturi Subrahmanya Chowdary, aged 37 years, is the Executive Director
  • Karuturi Neelima Devi, aged 32 years is the Whole Time Director of our Company
  • Datla Chandra Sekhar Raju aged 45 years is a Non-Executive Independent Director
  • Venkata Subba Raju Datla, aged 65 years is a Non-Executive Independent Director
  • Mantena Lakshmipathi Raju, aged 63 years is a Non-Executive Independent Director

Apex Frozen Foods IPO Particulars:
IPO Opens on : Aug 22, 2017
IPO Closes on : Aug 24, 2017
Issue Type: Book Built Issue IPO
Issue Size: 8,700,000 Equity Shares of Rs 10 aggregating up to Rs 152.25 Cr
Face Value: Rs 10 Per Equity Share
Price Band: Rs 171 – Rs 175 Per Equity Share
Minimum Order Quantity: 80 Shares
Listing will at: BSE, NSE

Apex Frozen Foods Company Address:
Apex Frozen Foods Ltd
3-160, Panasapadu,
Kakinada, East Godavari – 533 005
Phone: +91 884 2383 902/03/04
Fax: +91 884 2383 905/906

Lead Manager:
Karvy Investor Services Limited

Registrar to the IPO
Bigshare Services Pvt. Ltd

Tentative timetable in respect of the Offer:
Bid/Offer Opens On: August 22, 2017
Bid/Offer Closes On: August 24, 2017
Finalisation of Basis of Allotment: On or about August 30, 2017
Initiation of refunds: On or about September 1, 2017
Credit of Equity Shares to demat accounts: On or about September 1, 2017
Commencement of trading of the Equity Shares on the Stock Exchanges: On or about September 04, 2017