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Apex Frozen Foods, an integrated producer and exporter of shelf stable aquaculture products, on Wednesday received SEBI approval for an initial public offering.
The company had filed the draft red herring prospectus with SEBI on March 31.
The IPO comprises a fresh issue of 72.5 lakh equity shares and an offer-for-sale of up to 14.5 lakh shares by existing shareholders, according to the DRHP.
Proceeds of the issue will be utilised towards setting up a new shrimp processing unit with proposed capacity of 20,000 MTPA in East Godavari District, AP, and for general corporate purposes.
Karvy Investor Services is the Book Running Lead Manager to the issue.
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