Essex Marine Limited Planning To Raise Up To Rs. 23.01 Crore From Public Issue; IPO Opens August 04, 2025

PNN

New Delhi [India], August 2: Essex Marine Limited, a Kolkata-based seafood processing and exporting company, is planning to raise up to Rs. 23.01 crore from its SME public issue. The company has received approval to launch its public issue on BSE SME platform. The public issue opens on August 04, 2025 and closes on August 06, 2025. The Proceeds of the public issue will be utilised to fund the company's expansion plans, repayment of loans, funding working capital requirements and general corporate purposes. Khandwala Securities Limited is the lead manager of the issue.

Highlights: -

* Fresh Public issue of 42.62 lakh equity shares opens from August 04, 2025 to August 06, 2025

The company is engaged in seafood processing and exporting

* Minimum lot size for application is 4000 shares; Minimum IPO application amount approx. Rs. 2.16 lakh

* For FY24-25, the company reported total income of Rs. 39.93 crore and Net Profit of Rs. 4.66 crore

* Khandwala Securities Limited is the lead manager of the issue.

The initial public offering of Rs. 23.01 crore comprises a fresh issue of 42,62,000 shares of face value Rs. 10 each. Out of these, 2,14,000 shares are reserved for market makers, whereas 40,48,000 shares are for public offering. The company has finalised the price of Rs. 54 per equity share for the public issue. The lot size is 2000 shares, and the minimum lot size for retail investors is 4000 shares, amounting to a minimum investment of approximately Rs 2,16,000.

The issue aims to raise funds for multiple objectives. The company will utilise Rs. 2.48 cr. for the expansion of existing peeling capacity, Rs. 0.78 cr. for the setting up of a "ready-to-cook" section by adding blanching in the existing process, and Rs. 6.00 cr. for working capital, Rs. 7.15 cr. for repayment/prepayment of certain borrowings, and Rs. 3.43 cr. for general corporate purposes.

Post IPO listing, the promoters' shareholding will come down to 72.08% from 99.99% pre-IPO status.

Incorporated in 2009, Essex Marine Limited is a seafood processing and exporting company. The company procures, processes, stores, and exports quality fish and aquaculture products, including ribbon fish, eel fish, marine fish, squid, and mackerel, to countries like China, Belgium, and Japan. Their processing facility in Midnapur, West Bengal, is equipped with modern machinery such as IQF with Glazer and Hardener, plate freezers, blast freezers, and cold storage chambers, adhering to international standards like HACCP, GMP, SSOP, FSSAI, and BRC. The company operates across the frozen fish and shrimp supply chain, sourcing from India's eastern coast, processing, and exporting products to international customers.

The company's modern processing facility is located at Shankarpur, near Digha, a major landing center in Purba Medinipur, West Bengal an area known for high Vannamei aquaculture production. Product portfolio includes marine fish, marine shrimp, aquculture vannamei shrimp.

The company's strengths include a strategic processing unit location, wide geographical reach, strong quality control, and long-term customer relationships. Cost-effective production, timely delivery, and an experienced management team further enhance its competitive edge.

Business Highlights:-

The company's total income for the Fiscal 2024-25 was Rs 39.93 crores, whereas Net Profit was Rs 4.66 crore. For the period that ended on December 31, 2024, the company registered total income of Rs 29.86 crore with Rs 4.1 crore Profit After Tax.

The company has reported PAT margins of 9.25% (FY23), 9.52% (FY24), 12.53% (FY25), and RoCE margins of 17.14%, 14.40%, 18.87%, respectively for the referred periods. Shares of the company will be listed on BSE SME platform.

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