The IPO, priced on RS 54 per share, is a new edition of 42.62 Lakh Equity shares and will be mentioned on the BSE SME platform. The Gray Market Premium (GMP) for the issue was around 6% on the morning of the opening day.
Retail investors can submit an application in many 4,000 shares, for which a minimum investment of RS 2.16 Lakh is required. The registrar for the issue is Skyline Financial Services Private LTD and Khandwala Securities is the main manager.
The IPO has reserved 50% of the net issue for retail investors and the remaining 50% for NIIS. The proceeds of the issue will be used to expand the company’s skimmer capacity, setting up a ready-made section, meeting working capital needs, repaying debts and general business purposes.
Essex Marine, founded in 2009, works from a modern fish processing unit in Shankarpur, West -Bengal -an important hub for ONAMAMENi shrimps and other marine catch.
The company Sources, processes, shops and exports marine products such as ribbon fish, squid, mackerel, eel fishing and venamei shrimps to markets in China, Belgium and Japan. The facility meets global standards such as HACCP, FSSAI and BRC. Backed by Promoters Debashish Sen and Kajari Sen, the company reported a net profit of RS 4.1 Crore on sales of RS 29.86 Crore for the nine months ending December 2024.
Provisional allocation is planned for August 7, with mention expected on 11 August.
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