Incorporated in 2009, Essex Marine Limited is a seafood processing and exporting company.
The company procures, processes, stores, and exports quality fish and aquaculture products, including ribbon fish, eel fish, marine fish, squid, and mackerel, to countries like China, Belgium, and Japan.
Their processing facility in Midnapur, West Bengal, is equipped with modern machinery such as IQF with Glazer and Hardener, plate freezers, blast freezers, and cold storage chambers, adhering to international standards like HACCP, GMP, SSOP, FSSAI, and BRC.
The company operates across the frozen fish and shrimp supply chain, sourcing from India’s eastern coast, processing, and exporting products to international customers.
The company’s modern processing facility is located at Shankarpur, near Digha, a major landing center in Purba Medinipur, West Bengal an area known for high Vannamei aquaculture production.
Product Portfolio:
- Marine fish
- Marine shrimp
- Aquaculture vannamei shrimp
As on December 31, 2024, the Company has 91 employees on payroll.
Competitive Strengths:
- Strategic location of the processing unit
- Geographical presence
- Quality Assurance and Quality Control of the products
- Strong, cordial & long-term relationship with the customers
- Cost effective production and timely fulfilment of orders
- Well experienced management team
| Purpose | Amount (₹ Cr) |
|---|---|
| 1 Expansion of existing peeling capacity at existing processing unit at Shankarpur Road, Kaluya Sanda, Kuliyata, West Bengal 721441 | ₹2 |
| 2 Setting up of “Ready-to-Cook” Section by adding blanching in the existing process at the existing processing unit at Shankarpur Road, Kaluya Sanda, Kuliyata, West Bengal 721441 | ₹1 |
| 3 Funding of working capital requirements of the Company | ₹6 |
| 4 Repayment/pre-payment, in full or in part, of certain borrowings availed by the Company | ₹7 |
| 5 General corporate purposes | ₹3 |
| Metric | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Total Assets | 49 | 34 | 41 |
| Revenue | 40 | 21 | 21 |
| PAT | 5 | 2 | 2 |
| EBITDA | 9 | 5 | 6 |
| Net Worth | 18 | 13 | 11 |
| Reserves | 7 | 8 | 6 |
| Total Borrowing | 24 | 16 | 19 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| NII / HNI | — | 2,024,000 (47%) | — |
| Retail (RII) | — | 2,024,000 (47%) | — |
| Market Maker | — | 214,000 (5%) | — |
| Total | — | 4,262,000 (100%) | — |
* Amount calculated at upper price band (₹54) · ** Total includes all investor categories
- 1 Initiation of Refund 08 Aug 2025
- 2 Credit of Shares to Demat 08 Aug 2025
- Retail allocation is strong at 47% of the total offering.
- HNI/NII demand is strong at 47%.
- The IPO P/E of 18x reflects a good valuation relative to typical market ranges.
- Pre-issue EPS of ₹4 compares to post-issue EPS of ₹3 after dilution.
This IPO shows strong fundamentals and healthy investor demand. Research the business model and compare with sector peers before applying.
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