August 11, 2025
admin
Listing Review:
The scrip is listed at Rs. 43.20, 20% discount to the issue price. This is very disappointing
Final Subscription Tally
| Size Rs. 21.86 Crore LM: | ||||
| QIB | NII x | RII x | Total x | Applications |
| – | 0.87 | 4.95 | 2.90 | 2711 |
| Subscription Review: Weak subscription on the last day |
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About Essex Marine
Incorporated in 2009, Essex Marine Limited is engaged in the processing and export of seafood. The company procures, processes, stores, and exports a wide range of fish and aquaculture products, including ribbon fish, eel fish, marine fish, squid, and mackerel, catering to international markets such as China, Belgium, and Japan.
Its modern processing facility at Shankarpur, near Digha in Purba Medinipur, West Bengal, is strategically located in a region well known for high Vannamei aquaculture production. The plant is equipped with advanced machinery including IQF with Glazer and Hardener, plate freezers, blast freezers, and cold storage chambers, and adheres to international food safety and quality standards like HACCP, GMP, SSOP, FSSAI, and BRC.
Essex Marine operates across the frozen fish and shrimp supply chain, sourcing from India’s eastern coast, processing with global compliance standards, and supplying to reputed overseas customers.
Essex Marine IPO Details
|
Sector: Seafood Exports |
|
| IPO opens on | 4 August 2025 |
| IPO closes on | 6 August 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 42,62,000 Shares / Rs 23.01 Crore |
| * Fresh Issue | – |
| * Offer for Sale – | – |
| Market Maker Portion | 2,14,000 Shares |
| Net offer to Public | 40,48,000 Shares Rs. 21,86 Crores |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 54 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 2000 Shares |
| Listing will at | BSE SME |
How shares are being offered
| Investor Category | Shares Offered |
| Retail Shares Offered | 50% of the Net Issue |
| NII Shares Offered | 50% of the Net Issue |
How shares can be applied?
| Application | Lots | Shares | Amount |
| Individual investors (Retail) (Min) | 2 | 4,000 | Rs.2,16,000 |
| Individual investors (Retail) (Max) | 2 | 4,000 | Rs.2,16,000 |
| HNI (Min) | 3 | 6,000 | Rs.3,24,000 |
Who are the Promoters of Essex Marine IPO?
The promoters hold 99.99% of the pre-IPO capital
What are the Objects of Essex Marine IPO?
The Company proposes to utilize the Net Proceeds from Issue towards funding the following objects
+Expansion of existing peeling capacity at existing processing unit at Shankarpur Road, Kaluya Sanda, Kuliyata, West Bengal 721441 Rs. 2.48 Cr.
+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 Rs. 0.78 Cr.
+Funding of working capital requirements of the Company Rs. 6 Cr.
epayment/pre-payment, in full or in part, of certain borrowings availed by the Company Rs. 6 Cr.
+General Corporate Purposes
Essex Marine IPO Timetable
Tentative timetable |
|
| IPO opens on | 4 August 2025 |
| IPO Closes on | 6 August 2025 |
| IPO Allotment on | 7 August 2025 |
| Refund Initiation | 7 August 2025 |
| Credit of Shares | 8 August 2025 |
| Listing on | 11 August 2025 |
| Registered Office of the Company Essex Marine Ltd. 19, Pollock Street, 7th Floor, Room No.7 Kolkata, West Bengal, 700001 |
| Lead Managers of this IPO Khandwala Securities ltd |
| Who is the Registrar to the IPO? Skyline Financial Services Pvt ltd |
Essex Marine IPO Financials
| Period Ended | 31-Dec-24 | 31-Mar-24 | 31-Mar-23 | 31-Mar-22 |
| Assets | 49.75 | 34.26 | 40.99 | 43.89 |
| Revenue | 29.86 | 21.11 | 23.59 | 63.01 |
| Profit After Tax | 4.1 | 1.82 | 2.03 | 1.73 |
| Net Worth | 17.11 | 13.01 | 11.19 | 9.16 |
| Reserves and Surplus | 11.61 | 7.51 | 5.69 | 3.66 |
| Total Borrowing | 20.91 | 16.08 | 19.34 | 26.52 |
| Amount in Rs. Crore | ||||
Performance Indicators
| KPI | Values |
| ROE | 15.06% |
| ROCE | 14.40% |
| Debt/Equity | 2.97 |
| RoNW | 14.01% |
| PAT Margin | 9.52% |
| Price to Book Value | 4.56 |
| EPS | 1.66 |
| PE R | 32.29 |
How Essex Marine IPO compares with the Peers?
| Company Name | P/E (x) | RoNW (%) |
| Essex Marine | 12.74 | 26.39 |
| Kings Infra Ventures | 25.23 | 18.38 |
| Zeal Aqua | 14.02 | 11.33 |
# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Chanakya’s IPO Review – Essex Marine by Paresh Gordhandas, CA & Research Analyst
Essex Marine Limited
Incorporated in 2009, Essex Marine Limited is engaged in the processing and export of seafood. The company procures, processes, stores, and exports a wide range of fish and aquaculture products, including ribbon fish, eel fish, marine fish, squid, and mackerel, catering to international markets such as China, Belgium, and Japan.
Its modern processing facility at Shankarpur, near Digha in Purba Medinipur, West Bengal, is strategically located in a region well known for high Vannamei aquaculture production. The plant is equipped with advanced machinery including IQF with Glazer and Hardener, plate freezers, blast freezers, and cold storage chambers, and adheres to international food safety and quality standards like HACCP, GMP, SSOP, FSSAI, and BRC.
Essex Marine operates across the frozen fish and shrimp supply chain, sourcing from India’s eastern coast, processing with global compliance standards, and supplying to reputed overseas customers.
Valuation & Investment View
The company benefits from strong export demand, modern processing facilities, and strategic location advantages. Its compliance with international quality standards enhances credibility in global markets. However, the IPO carries a high minimum investment requirement (Rs. 2.16 lakh for retail investors), and as an SME issue, it involves higher liquidity and market risks. Investors with a medium‑ to long‑term horizon and higher risk appetite may consider subscribing, particularly if grey market trends remain supportive.
Quicklinks
Essex Marine IPO GMP
Essex Marine IPO review
Essex Marine Limited, incorporated in 2009, is coming out with its IPO. The company is engaged in seafood processing and exports, dealing in ribbon fish, eel fish, squid, mackerel, and other aquaculture products, with major markets in China, Belgium, and Japan.
The IPO is a fixed price issue of Rs. 23.01 crores, comprising a fresh issue of 42.62 lakh shares.
The IPO will open on August 4, 2025, and close on August 6, 2025. The allotment is likely on August 7, 2025, and the shares are expected to list on BSE SME on August 11, 2025.
The issue price is fixed at Rs. 54 per share.
Lead Manager: Khandwala Securities Limited
Registrar: Skyline Financial Services Private Limited
Essex Marine has strong export markets, a strategically located modern processing facility, and compliance with international food safety standards, which enhances its global credibility. However, the IPO has a high entry ticket (Rs. 2.16 lakh for retail investors) and, being an SME issue, carries higher risk and lower liquidity. Investors with a medium to long‑term horizon and higher risk appetite may consider subscribing, especially after reviewing valuations and grey market premium trends.
