Apex Frozen Foods IPO

Apex Frozen Foods IPO

Apex Frozen Foods is one of the integrated producer and exporter of shelf stable quality aquaculture products. We supply our 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. Our output majorly comprises of variants of processed Vannamei shrimp (White shrimp) and are sold under the brands owned by our customers and also through our brands namely Bay fresh, Bay Harvest and BayPremium.

Our processing facility is located at Kakinada, Andhra Pradesh with a capacity to process approximately over 9,240 MTPA of finished products and an additional non-exclusive pre-processing and processing arrangement at a facility owned by Royale Marine Impex Private Limited located at Bapatla, Andhra Pradesh, for a capacity to process around 3,000 MTPA of finished products. Further, our Company has entered into an addendum to lease agreement dated April 09, 2017 with Royale Marine Impex Private Limited for an additional processing capacity of 3000 MTPA of finished products. The processing facilities are supplemented by cold storage facilities located at Kakinada and Bapatla. Along with this, to further assuage our operations, we have our own fleet of vehicles with freezing capabilities.

Promoters of Apex Frozen Foods – Karuturi Satyanarayana Murthy and Karuturi Subrahmanya Chowdary

Apex Frozen Foods IPO details
Subscription Dates 22 – 24 August 2017
Price Band INR171 – 175 per share
Fresh issue 7,250,000 shares (INR123.97 – 126.87 crore)
Offer For Sale 1,450,000 shares (INR24.80 -25.38 crore)
Total IPO size 8,700,000 shares (INR148.77 – 152.25 crore)
Minimum bid (lot size) 80 shares
Face Value  INR10 per share
Retail Allocation 35%
Listing On NSE, BSE
Apex Frozen Foods’ financial performance (in INR crore)
FY2013 FY2014 FY2015 FY2016 FY2017
Total revenue 255.5 514.6 604.4 608.3 709.7
Total expenses 241.2 494.2 576.2 578.1 671.3
Profit after tax 9.4 13.4 18.4 19.3 24.4

Apex Frozen Foods Limited 
3-160, Panasapadu,
East Godavari – 533 005 (AP)

Phone: +91 884 2383 902/03/04
+91 884 2383 905/906
[email protected]
Website: www.apexfrozenfoods.com

Bigshare Services Private Limited 
E2, Ansa Industrial Estate, Sakivihar Road,
Sakinaka, Andheri (E),
Mumbai – 400 072

Phone: +91 22 4043 0200 
+91 22 2847 5201
 [email protected]
Website: www.bigshareonline.com

Earnings Per Share (EPS): INR10.17

Price/Earnings (P/E) ratio: 16.8 – 17.2

Return on Net Worth (RONW): 25.22%

Net Asset Value (NAV): INR40.32 per share

Apex Frozen Foods IPO Subscription Details

Category Shares offered Subscription (no. of times, at 5 PM)
Day 1 Day 2 Day 3
QIB 1,660,000 0.00 0.00 1.91
NII 1,245,000 0.18 0.45 7.81
Retail 2,905,000 0.78 2.90 8.31
Employees  400,000 0.00 0.20 0.96
Total 6,210,000 0.40 1.46 6.02

Apex Frozen Foods IPO allotment status is now available on Bigshare Services’ website. Click on this link to get allotment status.

IPO Opening Date: 22 August 2017

IPO Closing Date: 24 August 2017

Finalisation of Basis of Allotment: 30 August 2017

Initiation of refunds: 1 September 2017

Transfer of shares to demat accounts: 1 September 2017

Listing Date: 4 September 2017

Listing Price on NSE: INR202 per share (up 15.4% from IPO price)

Closing Price on NSE: INR212.1 per share (up 21.2% from IPO price)


    • Ryt sir. SIS is down then its ipo price still. The review on ipo central was absolutely correct on high price. Just one shock and thestock was down!!

  1. Apex should list between 20%-30% premium at the max. Markets are choppy whole Aug and are expected to remain same till Oct-Nov. So, this is max which one may expect from this IPO.

  2. Apex is going to be a very interesting story. The valuations are very reasonable and takes into account the volatility in the market. Couple of quarters down the line and these ratios will be very attractive.


  4. Sir may I ask what your bid prices and each lot size were? Which one won you the lot? Would you be so kind as to share that info please?


    • This message was for Mr. Raj who won one lot/bid… I had posted it as a reply to his message but it got posted at the top… Sorry Mr. Raj…


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