ICSFDC News Alerts

India: Buoyed by robust growth, India’s seafood exporters plan IPO by Swaraj Singh Dhanjal and Sneh Susmit March 13,2018   |  Source: FIS Worldnews

Several seafood exporters are looking to go public, with at least four of them firming up their IPO plans, buoyed by strong growth in the sector. Sandhya Marines Ltd, Devi Seafoods Ltd, Nekkanti Sea Foods Ltd and Devi Fisheries Ltd, companies which export shrimp and prawn, are in various stages of listing their shares. While Sandhya Marines and Devi Seafoods have already filed their share sale documents with the market regulator, the other two companies have hired investment banks for their respective public offerings. Mint reported in December that Devi Seafoods had initiated conversations to go public. Devi Seafoods plans to raise INR 900 crore through its initial public offering (IPO), while Sandhya Marines is looking to raise around INR 500-600 crore.

Nekkanti Sea Foods has appointed investment bank Motilal Oswal to manage its share sale, two people aware of the development said. Last week, VCCircle reported that Devi Fisheries, another Andhra Pradesh-based seafood exporter, has appointed investment banks for its IPO. Industry experts said seafood exporters are encouraged by the stellar market performance of listed peers.

“While the industry is doing well, the bigger factor that is driving several of these companies to look at a public listing are the valuations at

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Years in Support of Small Scale Fishworkers (1986 - 2018)