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Apex Frozen Foods filed DRHP; to issue 72.5 lakh shares

Thursday, May 18, 2017 0:35

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Andhra Pradesh based exporting company, Apex Frozen Ltd had filed the draft red herring prospectus (DRHP) with SEBI on March 31, for an Initial Public Offer (IPO), comprising 72.5 lakh equity shares and Offer For Sale (OFS) of up to 14.5 lakh shares by existing shareholders, as per the DRHP. The company has on Wednesday obtained SEBI nod for the said IPO.

Proceeds of the IPO will be used towards general corporate purposes and establishing a new shrimp processing unit with proposed capacity of 20,000 MTPA in East Godavari District, Andhara Pradesh. Karvy Investor Services will be the Book Running Lead Manager to the offer. Apex Frozen Foods Limited, an integrated exporter and producer shelf stable aquaculture products.

Apex Frozen Foods Ltd produces and exports a range of aqua-culture products. The company provides ready-to-cook white leg and black tiger shrimps. The company has operations in the USA, the UK, and various European countries.

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