Apex Frozen Foods Ltd IPO
Apex Frozen Foods Ltd is an integrated producer and exporter of shelf stable quality aquaculture products. They supply their 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. Their output majorly comprises of variants of processed Vannamei shrimp (White shrimp) and are sold under the brands owned by their customers and also through their brands namely Bay fresh, Bay Harvest and BayPremium. Apex Frozen Foods Ltd strategically focuses on the market of USA, which is the largest importer of aquaculture products in the world (Source- Crisil Report). Their integrated operations comprise of hatchery, farming, pre-processing, processing and exporting of aquaculture products. Their products and processes comply with stringent quality standards set by the developed markets they serve.
Apex Frozen Foods Ltd operates out of Andhra Pradesh, which is the most favourable state in India for aquaculture business. Their integrated operations span across their hatchery and farming on 1,032 acres of land and currently processing of approximately over 9,240 MTPA of finished products at their facility located at Kakinada. Their facility is approved by the Export Inspection Council for export to all countries excluding Australia and Custom Union. Their facility is also certified with BRC Food Grade, Best Aqua Culture Practices, HACCP and ASC.
OBJECTS OF THE ISSUE:
1. Setting up a new shrimp processing unit with a proposed capacity of 20,000 MTPA at East Godavari District, Andhra
2. General Corporate purposes
PROMOTERS OF THE COMPANY:
Karuturi Satyanarayana Murthy:
Karuturi Satyanarayana Murthy, aged 61 years, is the Chairman and Managing Director of the Company. He is a resident Indian national.
Karuturi Subrahmanya Chowdary:
Karuturi Subrahmanya Chowdary, aged 37 years, is the Executive Director of the Company. He is a resident Indian national.
FINANCIALS THE COMPANY:
Profit and Loss statement:
As on 24-Aug-2017 17:00:00 IST (All Exchange)
|Total Issue Size||62,10,000|
|Total Bids Received||3,74,77,600|
|Total Bids Received at Cut-off Price||1,94,68,800|
|No. of times issue is subscribed||6.04|
|Issue Period||22-Aug-2017 to 24-Aug-2017|
|Post issue Modification Period||26-Aug-2017 and 28-Aug-2017 (10.00 A.M. to 1.00 P.M.)|
|Issue Size||Initial Public offer of 8,700,000 Equity Shares (including anchor portion of 2,490,000 Equity Shares)|
|Issue Type||100% Book Building|
|Price Range||Rs 171 to Rs 175|
|Face Value||Rs 10|
|Tick Size||Re 1|
|Bid Lot||80 Equity Shares and in multiples thereof|
|Minimum Order Quantity||80 Equity Shares|
|Maximum Bid Quantity||62,10,000 Equity Shares|
|Maximum Subscription Amount for Retail Investor||Rs. 2,00,000|
|IPO Market Timings||10.00 a.m. to 5.00 p.m.|
|Book Running Lead Managers||Karvy Investor Services Limited|
|Syndicate Members||Karvy Stock Broking Limited|
|Categories||FI, IC, MF, FII, OTH, CO, IND, NOH and EMP|
|Name of the Registrar||Bigshare Services Private Limited|
|Address of the Registrar||1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis, Makwana Road, Marol, Andheri East, Mumbai- 400059|
|Contact person name number and Email id||Mr Babu Raphael, +91 22 6263 8200, email@example.com|
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