| The initial public offer (IPO) of Essex Marine received bids for 1,20,04,000 shares as against 42,62,000 shares on offer. The issue was subscribed 2.81 times. The issue opened for bidding on 4 August 2025 and it closed on 6 August 2025. The price of the IPO is fixed at Rs 54 per share. The equity shares will list on BSE's SME platform. Qualified Institutional Buyers (QIBs) bid for 12,000 shares, Non-Institutional Investors (NIIs) for 19,80,000 shares, while Retail Individual Investors (RIIs) placed bids for 1,00,12,000 shares. The IPO comprised fresh issue of 42,62,000 equity shares. The promoter shareholding dilute to 72.08% post- IPO from 99.99% pre-IPO. The company intends to utilize the net proceeds for expanding the existing peeling capacity at its processing unit at Shankarpur Road, Kaluya Sanda, Kuliyata, West Bengal, setting up a 'ready-to-cook' section by adding blanching process at its unit at Shankarpur Road, Kaluya Sanda, Kuliyata, West Bengal, funding of working capital requirements, repaying or pre-paying, in full or in part, of certain borrowings and general corporate purpose. Essex Marine, headquartered in Kolkata, West Bengal, engaged in the production of processed fish and shrimp. The company's main processed seafood comprised of different varieties of marine fish and shrimp as well as aquaculture vannamei shrimp. It exports frozen fish and shrimps from India under its brand name, Essex. The company primarily caters to customers in China and Europe, including food service distributors and warehouse chains. As of 31st March 2025, the company's installed capacities stood at 5,717 MT per annum for shrimp, 4,258 MT per annum for fish, and 3,942 MT per annum for peeling. Further, the company has 91 employees as on 31st March 2025. The company recorded revenue from operations of Rs 37.22 crore and net profit of Rs 4.66 crore for the period ended 31 March 2025. Powered by Capital Market - Live News |