Essex Marine IPO Listing: The shares of seafood processing and exporter Essex Marine today entered a huge discount on the SME platform of BSE. Its IPO did not get special response from investors and could not even fulfill the reserved part for every category. On the basis of retail investors, this issue was subscribed to more than 2 times. Shares have been issued at a price of ₹ 54.00 under IPO. Today, it has entered ₹ 43.20 on BSE SME, that is, IPO investors did not get any listing gains but the capital has reduced by 20%. After the listing, IPO investors and shock came when shares were further broken. It broke down on the lower circuit of ₹ 41.04 (Essex Marine Share Price) and it was closed on it i.e. at the end of the first business day, IPO investors are in 24% deficit.
How to spend Essex Marine IPO money
Essex Marine’s ₹ 23.01 crore IPO was opened till 4-6 August for subscription. This IPO had received mixed response from investors and could not even have the entire part reserved for non-institutional investors. Overall, this issue was 2.91 times subscribed. It had a share of non-institutional investors (NII) 0.87 times and the share of retail investors was 4.95 times. Under this IPO, 42.62 lakh new shares with face value of ₹ 10 have been issued. Out of these shares, ₹ 2.48 crore will increase the peeling capacity in the existing processing unit, setup ₹ 78 lakh ready-to-kuk section, ₹ 6.00 crore working capital needs, pay ₹ 7.15 loans and the rest of the money will be spent on common corporate objectives.
About essex marine
Essex Marines, built in 2009, processes Seafood and also exports them. It sends countries like China, Belgium and Japan, ribon fish, eel fish, marine fish etc. Its processing facility is in Midnapore, West Bengal. Talking about the financial health of the company, it made a net profit of ₹ 2.03 crore in FY 2023, but in the very next financial year 2024, the profit fell to ₹ 1.82 crore. However, in the very next financial year 2025, the situation rapidly improved and the company’s net profit jumped from the speed of the rocket to ₹ 4.67 crore.
During this time the company’s total income fluctuated. It received a revenue of ₹ 23.59 crore in FY 2023, ₹ 21.11 crore in FY 2024 and ₹ 39.93 crore in FY 2025. During this time, the company was also lifted in debt, which rose ₹ 19.34 crore in the end of FY 2023 and ₹ 16.08 crore in the last of FY 2024 to ₹ 23.90 crore in the last of FY 2025.
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