KARACHI: The book-building portion of SE Fruits and Vegetable Limited’s Initial Public Offering (IPO) was oversubscribed 1.6 times, with institutional and high-net-worth investors showing demand for the export-oriented, Shariah-compliant company’s shares.
The book-building process concluded on Tuesday at a strike price of Rs40 per share, enabling the company to raise Rs1.20 billion through the offering of 30 million ordinary shares.
The book-building portion, comprising 22.5 million shares or 75 percent of the total issue, was fully subscribed within two hours of opening on Monday. At the determined strike price, this portion represents an issue value of Rs900 million.
The remaining 7.5 million shares, representing 25 percent of the total issue, will be offered to the general public at Rs40 per share on September 28 and 29. The public subscription portion is expected to raise Rs300 million.
The 30 million shares being offered by SE Fruits and Vegetable represent 32.01 percent of the company’s post-IPO paid-up capital.
Topline Securities Limited and Growth Securities Limited are acting as Joint Lead Managers to the issue.
According to the company, the IPO proceeds will primarily be utilised to strengthen its working-capital position. The additional working capital is intended to support larger seasonal procurement, increase processing throughput and help the company cater to growing international demand through higher export revenue.
Based in Sargodha and formerly operating as Shaheen Enterprises, SE Fruits and Vegetable has a track record spanning nearly three decades. The company is engaged in the processing and export of kinnow, mangoes and potatoes.
Copyright Business Recorder, 2026
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