Key Takeaways
- SE Fruits and Vegetable Limited has received approval from SECP for its IPO.
- The company plans to offer 30 million shares, with a floor price of Rs40 per share.
- Proceeds from the IPO will strengthen the company's working-capital position.
SE Fruits and Vegetable Limited has secured approval from the Securities and Exchange Commission of Pakistan (SECP) for its Initial Public Offering (IPO), paving the way for its listing on the Pakistan Stock Exchange (PSX).
The company's book-building process is scheduled for September 21 and 22, with subscription by the general public on September 28 and 29.
Topline Securities Limited and Growth Securities Limited are acting as Joint Lead Managers for the issue.
SE Fruits and Vegetable plans to offer 30 million ordinary shares, representing 32.01 percent of its post-IPO paid-up capital, at a floor price of Rs40 per share.
The book-building process could raise the strike price by up to 60 percent to Rs64 per share, allowing the company to raise between Rs1.20 billion and Rs1.92 billion.
Of the total offering, 22.5 million shares, or 75 percent, will be offered through book building, while the remaining 7.5 million shares, representing 25 percent of the issue, will be offered to the general public.
The company said the IPO proceeds are expected to strengthen its working-capital position, which has been identified as a key constraint on its growth.
The additional capital is expected to support larger seasonal procurement, increase processing throughput, and improve the company’s ability to meet established international demand and generate higher export revenue.
SE Fruits and Vegetables currently accounts for less than 1 percent of Pakistan’s approximately USD470 million fruit and vegetable export market in FY2026, with export revenue of approximately USD4 million.
The company plans to increase export revenue to approximately USD18 million in FY2027, which could raise its market share to just under 4 percent.
Based in Sargodha and formerly operating as Shaheen Enterprises, the company has a track record spanning nearly three decades and exports kinnow, mangoes, potatoes, and other agricultural produce to more than 22 countries.
The company has also continued exports during periods of regional trade and logistics disruptions and achieved higher selling prices in certain Middle Eastern markets. It attributed this performance to its customer relationships, diversified international presence, and ability to adapt its commercial operations to challenging market conditions.
