SE Fruits and Vegetable secures SECP approval for IPO

SE Fruits and Vegetable Limited, a Punjab-based exporter of mangoes, citrus and potatoes, has received approval from the Securities and Exchange Commission of Pakistan (SECP) for the issuance, circulation and publication of its prospectus for an Initial Public Offering (IPO) of 30 million ordinary shares on the Pakistan Stock Exchange (PSX).

The SECP approval, dated September 9, follows approval from the PSX granted on September 7. Book building is scheduled for September 21 and 22, while subscription by the general public will take place on September 28 and 29, read a statement.

Topline Securities Limited and Growth Securities Limited are acting as Joint Lead Managers to the Issue.

SE Fruits and Vegetable Limited plans to offer 30 million ordinary shares, representing 32.01% of its post-IPO paid-up capital, at a floor price of Rs40 per share. Through the book-building process, the strike price may rise by up to 60% to Rs64 per share, enabling the company to raise between Rs1.20 billion and Rs1.92 billion.

Under the offering structure, 22.5 million shares, representing 75% of the issue, will be offered through book building, while the remaining 7.5 million shares will be offered to the general public.

“The IPO is expected to materially strengthen the company’s working-capital position, addressing one of the principal constraints on its growth. The additional capital will support larger seasonal procurement, higher processing throughput and an enhanced ability to convert established international demand into export revenue,” the company said.

The company, which earned $4 million in export revenue in FY26, plans to increase export revenue to approximately $18 million in FY2027, potentially increasing its market share to just under 4%.

Based in Sargodha and formerly operating as Shaheen Enterprises, the Company has a track record spanning nearly three decades and exports kinnow, mangoes, potatoes and other agricultural produce to more than 22 countries.