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Kings Infra Ventures Ltd’s shares were up by 3.73 per cent after the company set growth targets for 2024 and announced the launch of “Kings Bento,” a line of ready-to-eat seafood delicacies, inspired by the Japanese concept of Bento. The product, developed in association with the Central Institute of Fisheries Technology (CIFT), will be available in Kerala from January 2024.
Furthermore, the Kings Fresh line has been rebranded as Kings Frigo, offering freshly frozen or chilled premium seafood products. To support expansion and marketing plans, Kings Infra is issuing preferential allotment of equity shares of ₹17 crore4 and securing a working capital of up to ₹40 crore from Punjab National Bank.
Highlights from the previous year include the signing of a long-term Memorandum of Understanding (MoU) with Shanghai-based M/s. Shanghai RSF Trading Company Limited, a joint venture of Japan Food Services Company, for the launch of the KINGS RISHIFU brand shrimps in the Chinese market. The initial order from RSF Trading Company, valued at approximately ₹100 crores, is expected to increase to 200 containers in the next financial year, potentially generating significant revenue.
The company’s team concluded a visit to Shanghai and Zhanjiang in China, focusing on product and market development activities. The visit aimed to gather feedback on trial containers and explore new product trials for value addition, enhancing brand visibility and establishing new distributor and channel relationships in the Chinese market.
Kings Infra also secured a MoU with JH & Company, representing Ocean World Ventures in the US, for the distribution of seafood products, primarily Vannamei Shrimps. The partnership plans to start with 5-8 containers per month, scaling up to a minimum of 100 containers per year, expanding the product range for distribution in the US.
The company launched SISTA360, a digital platform for sustainable aquaculture solutions, aiming to revolutionize the Indian aquaculture landscape. The platform was introduced at a seminar in New Delhi.
The shares were up by 3.73 per cent to ₹176.70 at 11.23 am on the BSE.
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