SE Fruits, Vegetable IPO book-building process begins

KARACHI: The two-day book-building process for the Initial Public Offering (IPO) of SE Fruits and Vegetable Limited commenced at the Pakistan Stock Exchange (PSX) on Monday and will continue until September 22, with the company offering 22.5 million shares to institutional and high-net-worth investors.

SE Fruits and Vegetable is offering a total of 30 million ordinary shares, representing 32.01 percent of its post-IPO paid-up capital. The shares carry a floor price of Rs40 each, while the book-building process allows the strike price to increase by up to 60 percent to a maximum of Rs64 per share.

At the floor price, the IPO is expected to raise Rs1.20 billion, while the proceeds could reach Rs1.92 billion if the strike price is set at the maximum permissible level of Rs64 per share.

Under the issue structure, 22.5 million shares, equivalent to 75 percent of the total offering, are being offered through the book-building process to institutional and high-net-worth investors. The remaining 7.5 million shares, representing 25 percent of the issue, will be offered to the general public on September 28 and 29.

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

The company plans to utilise the IPO proceeds primarily to strengthen its working-capital position. The additional capital is expected to enable larger seasonal procurement, increase processing throughput and support the company in meeting international demand for its agricultural produce.

SE Fruits and Vegetable generated approximately USD 4 million in export revenue during FY2026 and has set a target of increasing export revenue to around USD 18 million in FY2027.

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

The IPO represents 32.01 percent of the company’s post-IPO paid-up capital, while the book-building process will determine the final strike price within the announced range of Rs 40 to Rs 64 per share.

Following completion of the book-building phase, the company is scheduled to offer the allocated portion of its shares to the general public through the subscription process on September 28 and 29.

Copyright Business Recorder, 2026