Key Takeaways
- SE Fruits and Vegetable Limited begins two-day book building process for IPO.
- Company aims to raise up to Rs. 1.92 billion through the offering.
- Proceeds will be used to strengthen working capital and expand export capacity.
The two-day book building process for the Initial Public Offering (IPO) of SE Fruits and Vegetable Limited has commenced, providing investors with an opportunity to participate in the public offering of this export-oriented, Shariah-compliant company.
SE Fruits and Vegetable Limited, formerly known as Shaheen Enterprises, is offering 30 million ordinary shares, representing 32.01 percent of its post-IPO paid-up capital, at a floor price of Rs. 40 per share.
The strike price can rise by up to 60 percent, reaching a maximum of Rs. 64 per share. At the floor price, the IPO is expected to raise Rs. 1.20 billion, while the company could raise up to Rs. 1.92 billion if the strike price reaches the upper limit.
Of the total offering, 22.5 million shares, or 75 percent, are being offered to institutional and high net worth investors through book building. The remaining 7.5 million shares, representing 25 percent of the issue, will be offered to the general public on September 28 and 29.
Topline Securities Limited and Growth Securities Limited are acting as joint lead managers for the issue. The company plans to use the IPO proceeds mainly to strengthen its working capital, allowing it to increase seasonal procurement, expand processing capacity, and meet growing international demand.
SE Fruits and Vegetable generated about $4 million in export revenue during the fiscal year 2026 and plans to increase this to around $18 million in fiscal year 2027. The company is based in Sargodha and exports kinnow, mangoes, potatoes, and other agricultural produce to more than 22 countries.
The company has nearly three decades of operating experience and aims to leverage the IPO to further its growth and international presence. The book building process is expected to provide a robust platform for investors to participate in the company's journey towards becoming a publicly traded entity.
