SE Fruits and Vegetable IPO Price Set at Rs40 Per Share
KARACHI: The book-building phase of SE Fruits and Vegetable Ltd’s initial public offering (IPO) has concluded with a strike price of Rs40 per share.
The company received bids for around 1.6 times the number of shares offered during the book-building process, indicating strong interest from institutional and high-net-worth investors.
The book-building portion was fully subscribed within two hours of opening on Monday.
SE Fruits and Vegetable Ltd is offering 30 million ordinary shares, equal to 32.01 per cent of its post-IPO paid-up capital. At the final price of Rs40 per share, the IPO is expected to generate Rs1.2 billion for the company.
Under the IPO structure, 22.5 million shares, or 75 per cent of the total offering, were allocated for the book-building process. These shares are valued at Rs900 million at the strike price.
The remaining 7.5 million shares, representing 25 per cent of the total issue, will be available to the general public at Rs40 per share on September 28 and 29.
The public offering is expected to raise an additional Rs300 million.
Topline Securities Ltd and Growth Securities Ltd are serving as joint lead managers for the IPO.
According to the company, the funds raised through the offering will mainly be used to strengthen its working capital and support its business operations.
SE Fruits and Vegetable Ltd is an export-focused company operating in the fruits and vegetables sector and follows a Shariah-compliant business model.
