 "Apex Frozen Foods IPO opens on August 22")
The initial public offering (IPO) of Apex Frozen Foods, based in Kakinada would open for subscription on August 22.
The company has offered to sell 8.7 million equity shares of face value of Rs 10 each at a price band of Rs 171-Rs 175 per share, thereby, aggregating a net sum of around Rs 148.77 crore-Rs 152.25 crore.
The offering involves the fresh issue of 7.25 million shares and an offer for sale of 1.45 million shares by the promoters. The company proposes to utilise the net proceeds to establish a new shrimp processing unit with a proposed capacity of 20,000 tonnes per annum in Andhra Pradesh.
In the financial year 2016-17, Apex Frozen Foods registered a total revenue of Rs 709.68 crore.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app