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Apex Frozen Foods IPO opens on 22 August

Capital Market 

The IPO price band fixed at Rs 171 to Rs 175 per share

Apex Frozen Foods is coming up with a public issue of up to 87 lakh equity shares comprising of a fresh issue of 72.5 lakh equity shares by the company and an offer for sale by selling shareholders of 7.25 lakh equity shares by Karuturi Satyanarayana Murthy and up to 7.25 lakh equity shares by Karuturi Padmavathi. The issue includes a reservation of not exceeding 5% of the post-issue paid up equity share capital to the employees.

The net issue would constitute 27.84% of the post-issue paid-up equity share capital and the net issue to the public would constitute 26.56% of the post-issue paid-up share capital of the company. The price band of the initial public offer (IPO) has been fixed at Rs 171 to Rs 175 per equity share. The issue will open for subscription on 22 August 2017 and closes on 24 August 2017.

Apex Frozen Foods is one of the integrated producer and exporter of shelf stable quality aquaculture products. The company produces ready-to-cook products to a diversified customer base consisting of food companies, retail chains, restaurants, club stores and distributors spread across the developed markets of USA, UK and various European countries.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, August 11 2017. 11:18 IST