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Apex Frozen Foods Ltd IPO (Apex Frozen Foods IPO) Detail

Aug 22, 2017 - Aug 24, 2017

Incorporated in 1995, Apex Frozen Foods Limited is in the business of produces and exports aquaculture products. They supply their products to food companies, retail chains, restaurants, club stores and distributors. Apex produces two kinds of shrimps namely the Whiteleg shrimp (Litopenaeus vannamei) and the Black Tiger Shrimp (Penaeus monodon).

They have operations in the United States, United Kingdom and various European countries. Company's output majorly comprises of variants of processed Vannamei shrimp (White shrimp) and are sold under the brands namely Bay fresh, Bay Harvest and BayPremium.

Company Promoters:

The promoters of the company are:

1. Karuturi Satyanarayana Murthy
2. Karuturi Subrahmanya Chowdary

Company Financials:

Summary of financial Information (Consolidated)
Particulars For the year/period ended (in Rs. Crore)
31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14 31-Mar-13
Total Assets 257.44 178.79 165.14 140.46 94.35
Total Revenue 709.68 608.27 604.37 514.57 255.48
Profit After Tax 24.93 19.70 18.57 13.42 9.42

Objects of the Issue:

The object of the issue are to:

1. Setting up a new shrimp processing unit with a proposed capacity of 20,000 MT PA at East Godavari District, Andhra Pradesh (“Project”);
2. General Corporate purposes

Issue Detail:

  »»  Issue Open: Aug 22, 2017 - Aug 24, 2017
  »»  Issue Type: Book Built Issue IPO
  »»  Issue Size: 8,700,000 Equity Shares of Rs 10 aggregating up to Rs 152.25 Cr
  »»  Face Value: Rs 10 Per Equity Share
  »»  Issue Price: Rs 171 - Rs 175 Per Equity Share
  »»  Market Lot: 80 Shares
  »»  Minimum Order Quantity: 80 Shares
  »»  Listing At: BSE, NSE

Apex Frozen Foods IPO Reviews:

  1. Apex Frozen Foods Ltd IPO review by Dilip Davda

Apex Frozen Foods IPO Recommendations:

Capital Market Review

Issue Subscription Detail / Current Bidding Status

Number of Times Subscribed (BSE + NSE)
As on Date & TimeQIBNIIRIIEmployeeTotal
Shares Offered / Reserved1,660,0001,245,0002,905,000400,0006,210,000
Day 1 - Aug 22, 2017 17:00 IST0.00000.18000.79000.00000.4000

Apex Frozen Foods IPO Prospectus

Apex Frozen Foods IPO Rating

967
3.8
Rating:Rated 3.8 stars

Vote Here ...

Apex Frozen Foods IPO News Alerts

  1. Thursday, August 24, 2017 12:00:00 AM
    Apex Frozen Foods Ltd IPO - Close
  2. Tuesday, August 22, 2017 12:00:00 AM
    Apex Frozen Foods Ltd IPO - Open

Company Contact Information

Apex Frozen Foods Ltd
3-160, Panasapadu,
Kakinada,
East Godavari - 533 005
Phone: +91 884 2383 902/03/04
Fax: +91 884 2383 905/906
Email: cs@apexfrozenfoods.com
Website: http://www.apexfrozenfoods.in

Apex Frozen Foods IPO Registrar

Bigshare Services Pvt. Ltd   »  Report
   Bigshare Services Pvt Ltd E-2 & 3,
   Ansa Industrial Estate, Saki-Vihar Road,
   Sakinaka, Andheri(E), Mumbai - 400 072

Phone: 91-22-40430200
Fax: 91-22-2847 5207
Email: investor@bigshareonline.com
Website: http://www.bigshareonline.com

Apex Frozen Foods IPO Lead Manager(s)

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Apex Frozen Foods IPO Review / Comments

avatar
196. Ankur Goell  Aug 22, 2017 6:25:41 PM IST I Like It. | Report Abuse Reply
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
Retail is always going gaga. It is almost full in retail category on 1st day. Very thin chances of allotment in retail category.
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195. kenil  Aug 22, 2017 6:10:25 PM IST I Like It. | Report Abuse Reply
Current GMP?

@eagleeye, @gamble
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194. IPO super analyst  Aug 22, 2017 6:09:34 PM IST I Like It. | Report Abuse Reply
GMP=31 buyer
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193. OPTIMUS PRIME  Aug 22, 2017 6:09:23 PM IST I Like It. | Report Abuse Reply
ne1 please share subcription data at closing
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192. Ashraf.mada  Aug 22, 2017 5:47:27 PM IST I Like It. | Report Abuse Reply
Hi bros, i am new to asba . My question is how to fill dialog box on sbi ipo net banking ? Bid price etc etc. Hope a Kind heart from this forum ll solve my doubt. Thanks in advance.
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192.1. Ankur Goell  Aug 22, 2017 6:06:51 PM IST I Like It. | Report Abuse
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
1) Add account :- >
Go to Profile -> Manage IPO applicant -> Add the account
2) Go to e-services -> Demat/Asba service -> IPo equity -> select IPO -> select retail category -> select applicant -> enter qty -> select cut off -> Confirm
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191. AMS  Aug 22, 2017 5:49:27 PM IST I Like It. | Report Abuse Reply
2. They are giving antibiotic to the shrimp to avoid virus. some country wont accepted the material if it is high in antibiotic
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191.1. Super Trader  Aug 22, 2017 5:53:18 PM IST I Like It. 5 | Report Abuse
The company owners dont know this information. they and poor shareholders going to suffer. thank god , you know and escaped ;)
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191.2. OPTIMUS PRIME  Aug 22, 2017 6:01:22 PM IST I Like It. 1 | Report Abuse
dont spread rumors ,if perticular community not applying its their wish but y bad mouth for whom are wiling to apply
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190. Lahari  Aug 22, 2017 5:51:08 PM IST I Like It. | Report Abuse Reply
Top Contributor Top Contributor (200+ Posts, 200+ Likes)
Good Start Apex Frozen...0.40 Subscribed on first day
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189. Kverma  Aug 22, 2017 2:43:52 PM IST I Like It. | Report Abuse Reply
Anyone Know current GMP..?
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189.2. AtulGiri  Aug 22, 2017 2:45:49 PM IST I Like It. | Report Abuse
which city ?
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189.3. Kverma  Aug 22, 2017 5:48:44 PM IST I Like It. | Report Abuse
yeah correct which city please..?
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188. AMS  Aug 22, 2017 5:48:07 PM IST I Like It. | Report Abuse Reply
All is goood,But 1. seasonal productions on accuaculture.
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187. Dvdabhi  Aug 22, 2017 10:55:26 AM IST I Like It. 2 | Report Abuse Reply
Why icici bank asba not available today for this IPO?????
anyone have same problem ?
avatar
187.3. HarishK  Aug 22, 2017 11:23:16 AM IST I Like It. | Report Abuse
Refer post number 157.1
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187.4. Dvdabhi  Aug 22, 2017 5:47:06 PM IST I Like It. | Report Abuse
any one know about icici ASBA ? still error reciving.....how can i apply IPO i have only icic bank account.
avatar
186. Republic  Aug 22, 2017 3:43:12 PM IST I Like It. 2 | Report Abuse Reply
Is it a good company to invest in? and is there possibility for gains?
Please reply
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186.1. Ankur Goell  Aug 22, 2017 5:17:46 PM IST I Like It. 3 | Report Abuse
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
In my opinion, it is YES.
avatar
186.2. AUG  Aug 22, 2017 5:22:10 PM IST I Like It. | Report Abuse
It is way better than SIS, which has given the listing gain.
It will give us the better listing gain and it will go well for short term holding.
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185. Ankur Goell  Aug 22, 2017 5:16:03 PM IST I Like It. 1 | Report Abuse Reply
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
According to a report by GEPL Capital, the company source approximately 15%-20% of their raw material requirements through their own farming efforts. Their in-house farming and association with their associate farmers enable reliable and uninterrupted supply of raw shrimp.

All their operational facilities are located in proximity to one another, thereby enabling smooth transition of products to each stage of the product life cycle. Their facility is approximately 20Kms from Kakinada port and approximately 150Kms from Vishakapatnam port,thereby providing a substantial logistical advantage for the transport of their finished product.

The Company has numerous ponds situated in a total extent of 1,337.69 acres with 105.78 acres of owned land and 1,231.91 acres of leased land. This farming at their ponds allows them to procure raw materials and ensures that their business of shrimp processing is cost effective.

Giving it a thumbs-up, the report said, "Apex Frozen Foods Limited stands to gain from operating leverage. At a P/E of 17.20xs of FY17 Earning. We believe that Apex demands a discount to its domestic peers. We assign a Subscribe rating to the IPO."
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184. AUG  Aug 22, 2017 5:12:44 PM IST I Like It. | Report Abuse Reply

As on 22-Aug-2017 17:00:00 IST

Total Issue Size      = 62,10,000
Total Bids Received       = 25,09,600
Total Bids Received at Cut-off Price =       16,71,920
No. of times issue is subscribed      = 0.40
avatar
184.1. AUG  Aug 22, 2017 5:15:57 PM IST I Like It. | Report Abuse
This is exactly what i said in earlier post.
40% subscription by the end of day 1.
avatar
183. Ankur Goell  Aug 22, 2017 5:14:59 PM IST I Like It. 1 | Report Abuse Reply
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
avatar
182. Ankur Goell  Aug 22, 2017 4:54:56 PM IST I Like It. 1 | Report Abuse Reply
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
SPA Securities in a note said that the stock is available at P/E of 22.4 times based on FY17 earnings, which is justified considering the companys strong execution capability, healthy international customer base, strong R&D focus, farms in favourable coastal belt, low net debt equity, increased value added proportion and expanding global reach.
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181. Ankur Goell  Aug 22, 2017 4:54:29 PM IST I Like It. 1 | Report Abuse Reply
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
Brokerage Nirmal Bang has a subscribe rating on the issue. We like the business model of the company given its high asset turnover, customer stickiness and integrated business operations. At upper price band of Rs 175, the issue looks attractive and hence recommends investors to subscribe it for listing and long term gains.
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180. Pokemongo  Aug 22, 2017 4:00:53 PM IST I Like It. | Report Abuse Reply
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
03:50:26 PM Aug 22

Qualified Institutional Buyers (QIBs)      - 0
Non Institutional Investors       - 17%
Retail Individual Investors (RIIs)       - 69%
Employee Reserved       - 0.04%
Total - 0.36
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179. KPP  Aug 22, 2017 3:47:40 PM IST I Like It. | Report Abuse Reply
if any one apply through me pls contact (BULK FORM ONLY)
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178. an Investor  Aug 22, 2017 10:33:30 AM IST I Like It. | Report Abuse Reply
Guys,

I am trying to apply through ICICI ASBA, but it shows an error. Is anyone facing same problem?

Thanks.
avatar
178.3. Ashish Khater  Aug 22, 2017 3:36:16 PM IST I Like It. | Report Abuse
Top Contributor Top Contributor (300+ Posts, 100+ Likes)
Try through some other online asba like SBI,etc.
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178.4. bsprakash  Aug 22, 2017 3:43:46 PM IST I Like It. | Report Abuse
I have applied through ICICI direct.com without any difficulty. try once more it may work now.
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177. gamble  Aug 22, 2017 7:59:56 AM IST I Like It. 17 | Report Abuse Reply
IPO Guru IPO Guru (1300+ Posts, 1400+ Likes)
Apex frozen

.....ApPly. .........

Revenue CAGR 29%(2013-17)
PAT CAGR 27%

Ronw = 25%
Long term D/E = 0.26

What else u need !!

@175 PE 17

Aquaculture more or less consistently growing business

With CAGR 27% .....25-30 PE is reasonable

i.e 25PE =250 price

Conclusion :

@175 Apex providing good value investing opportunity. Listing gain should be more than FD(imo)
Midium term 250 is fair valuation.

Rii 38K forms reqd for 1x.. .due to negativity among rii segment let''s hope allotment ratio comes near 1/4 to 1/5 .
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177.7. Kenny  Aug 22, 2017 10:08:23 AM IST I Like It. | Report Abuse
Thank you so much Gamble ji. ??
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177.8. KRB  Aug 22, 2017 3:35:45 PM IST I Like It. | Report Abuse
Very good analysis....
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