Mumbai: Aquaculture company Apex Frozen Foods Ltd Wednesday said it will open its initial public offering (IPO) on 22 August.
At the upper end of its price band of Rs171-175, the share sale will be worth approximately Rs152 crore. The IPO will close on 24 August.
The IPO will see a fresh issue of 7.25 million shares, which at the upper end of the price band will fetch the company approximately Rs126 crore. The proceeds will be used to set up a new shrimp processing unit with a capacity of around 20,000 million tonnes per annum (mtpa) in Andhra Pradesh.
Karuturi Satyanarayana Murthy, chairman of the company, will sell 1.45 million shares in an offer for sale. At the upper end of the price band, the share sale will fetch the promoter Rs25 crore.
Karvy Investor Services Ltd is managing the share sale.
Apex, established…