Apex Frozen Foods Limited, as the name suggests, is essentially a company engaged in the production, trading and export of aquaculture products. Incorporated in 1995, the company is headquartered in Panasapadu, Kakinada, East Godavari. The company is coming up with an IPO issue. Apex Frozen Foods IPO review will delve into the issue details to find about the IPO.
About the issue – Apex Frozen Foods IPO review finds the following details from the DRHP submitted to SEBI.
- Issue opens on – 22 August 2017
- Issue closes on – 24 August 2017
- Issue type – Book built issue IPO
- Issue Price – Price band of Rs 171 to Rs 175 per equity share
- Lot size – 80 shares per lot or multiples thereof
- Face Value – Rs 10
- Issue size – 8,700,000 equity shares at an aggregate of approx. Rs 152.25 crores
- Listing Exchange – NSE, BSE
Issue objectives – The proceeds from this issue will be used to 1) setting up a proposed shrimp processing unit of 20,000 MTPA at East Godavari district, Andhra Pradesh, 2) meet general corporate expenses and 3) to meet issue expenses.
Tentative timetable with respect to the Apex Frozen Foods new issue offer –
- Finalisation of allotment – 30 August 2017
- Initiation of refund – 1 September 2017
- Credit of equity shares to demat accounts – 1 September 2017
- Commencement of newly listed equity shares – 4 September 2017
About the company – Apex Frozen Foods Limited supply processed food to retail food chains, hotels, restaurants, club stores and also sells through distributors. It produces two kinds of shrimps, the Black Tiger Shrimp and the Whiteleg Shrimp. They export their products to various countries. The company has established overseas offices at US, UK and various European countries. The company export its products under the brand names of Bay Harvest, Bay Fresh and Bay Premium.
Company Financials – Apex Frozen Foods IPO review finds that the company has been making a consistent profit since fiscal 13. Fiscal 17 has been particularly profitable for the company clocking highest PAT. But the business domain is risky. Therefore Apex Frozen Foods IPO review has NEUTRAL views on this IPO
Disclaimer – Views expressed in this review is an educated guess made on the basis of available data from open source expressed for the purpose of knowledge sharing. By no means, it should be taken as an investment advice or recommendation. Investor/ trader should invest money at their own risk.
Author Bio
Partha Dhar
Partha, an engineer by education, is theoratically actively following the stock and commodity markets since 1990. He is an active trader since 2003. He has received formal education in future and options and quantum analysis. He is presently working on research oriented projects using Python and data analytics.
Considering that the stock had a circuit for 14 days should this ipo be held in portfolio
Ankit, it’s already a double gain for the investors of this issue. However, its tough to predict till what time this stock will hit upper circuit and your exit may be early. A rule of thumb to exit a circuit stock is to exit before market close on the first day when the circuits are not hit.