The recent news of the drafting of the massive IPO of 900 million, at the SEBI by the leading seafood exporter Devi Sea Foods has stirred the market. The listing of equity shares will help to improve its brand image and provide liquidity to its existing shareholders. The company, which had its advent in 1992, will have the leading companies Axis Capital, ICICI Securities, and the Kotak Mahindra Bank will look after its public offerings. The company’s promoters are P Brahmanandam, P Suryavathi, P Rama Devi and N Naveena as per the information by the SEBI.
Well, this is not the first and obviously the last time the sea business has to show its potential to expand in the market business to expand on. One of the leading exporters of aqua foods, Apex Frozen Foods, which was incorporated in 1995, had also issued its IPO from 22 August 2017 to 24 August 2014 of around 3 crores, giving the interested investors to invest in the company. The company has displayed an appreciable growth of just 195 to 554.94 points.
Avanti feeds, which is a leading shrimp feed manufacturer and exporter, is also not far behind in terms of its share price, which rapidly increased to 300% in August 2017, which its produce rising as high as over 7000% in only five years, starting from 2012.In just a year, the growth has tremendously increased from as low as 670 points to 2338.81 points. The one main reason that can be behind all the continually expanding shrimp market, is the relaxation to allow to cultivate non-native Pacific White Shrimp, also known as P Vannamei Species. The company excels in processing and exporting the shrimp overseas to USA, European Union, and Japan. The company reported growth of Rs. 998 Crore, in the first quarter of FY18, and is still expected to grow more in the coming years.
India’s share in 2010 was only 2.8%, but after the introduction of the species, the market share of India has drastically changed. There is a continuous surge in the sea food industry and the estimated profit is supposed to be around 40000 crores, this year. The industry is about to grow to seven lakh tonne in this fiscal year, and up to one million tonnes till 2020. MPEDA chairman A. Jayathilak said that if India continues to augment its ways and promote the industry so well, then it might as well surpass China.