Essex Marine Limited, a seafood processing company based in Kolkata, West Bengal, is coming up with its Initial Public Offering (IPO) via the Fixed Price Issue route, opening on August 4, 2025, and closing on August 6, 2025. The company has more than 16 years of experience in the processing and export of marine fish and vannamei shrimp, and operates under its own brand Essex. Their key export markets include China, Europe, and Israel.

The IPO issue is worth ₹ 23.01 Crores, consisting of a fresh issue of 42.62 lakh equity shares at a fixed price of ₹ 54 per share. The IPO will be listed on the BSE SME platform with a tentative listing date of August 11, 2025.

Financial Overview and Valuation

Essex Marine has shown a positive financial trend over the past three fiscal years:

• FY23 Revenue: ₹ 2,359.43 Lakh

• FY24 Revenue: ₹ 2,111.05 Lakh

• FY25 Revenue: ₹ 3,993.19 Lakh

The EBITDA has also improved from ₹ 601.34 Lakh in FY23 to ₹ 943.52 Lakh in FY25. The Profit After Tax (PAT) rose from ₹ 202.65 Lakh in FY23 to ₹ 466.50 Lakh in FY25. This indicates solid financial growth and better operating efficiency.

The pre-issue EPS is ₹ 4.24 while the post-issue EPS is ₹ 3.06. The pre-issue P/E ratio is 12.73x and post-issue P/E ratio is 17.67x, which is fairly priced compared to the industry average P/E of 19x. The Return on Capital Employed (ROCE) is 18.87%, Return on Equity (ROE) is 30.40%, and Return on Net Worth (RoNW) stands at 26.39%, showcasing healthy profitability and efficient use of capital.

IPO Details

• IPO Open Date: August 4, 2025

• IPO Close Date: August 6, 2025

• Listing Date: Tentatively August 11, 2025

• IPO Price: ₹ 54 per share

• Issue Size: ₹ 23.01 Crores

• Lot Size: 2,000 shares

• Minimum Investment: 4,000 shares or ₹ 2,16,000

The issue is managed by Khandwala Securities Limited, with Skyline Financial Services Pvt. Ltd. as the registrar. Gretex Share Broking Ltd. acts as the market maker.

Grey Market Premium (GMP) and Subscription Status

As of now, the Grey Market Premium (GMP) is ₹ 0, meaning there are no listing gains expected. Investors must note that GMP is unregulated, speculative, and not an accurate price discovery mechanism.

Live subscription data will be available once the IPO opens. No real grey market activity is currently observed, making this IPO a neutral choice for listing gains.

Allotment Date and Status Check Process

The IPO allotment is expected on August 7, 2025. Investors can check their status through the registrar’s website by:

• Selecting Essex Marine Limited IPO from the dropdown list

• Entering PAN/Application Number/DP Client ID

• Submitting the details to view status

This process helps investors to know quickly if they’ve been allotted shares.

Objective of the IPO

The net proceeds from the IPO will be used as follows:

1. ₹ 247.93 Lakh – For expanding the existing peeling capacity at the current processing unit

2. ₹ 78.25 Lakh – For setting up a Ready-to-Cook section by adding blanching facilities

3. ₹ 600.00 Lakh – For working capital requirements

4. ₹ 715.00 Lakh – For repayment or prepayment of secured borrowings

5. ₹ 343.16 Lakh – For general corporate purposes

This strategic use of funds reflects Essex Marine’s growth-oriented approach.

Leadership and Management

The company is led by Debashish Sen, Promoter and Managing Director, who has extensive experience in the Indian seafood industry. Under his guidance, the company has expanded both capacity and market reach. The management team comprises qualified Key Managerial Personnel who focus on strategy, operations, stakeholder relations, and risk management.

Market Risks and Listing Outlook

Despite a solid financial background, the flat GMP of ₹ 0 suggests that short-term listing gains are unlikely. This could be due to overall market sentiment or the sector's low excitement among retail investors.

Considering low GMP, fair valuation, and BSE SME listing, it is advisable for short-term investors to avoid the IPO for listing gain purposes. However, long-term investors with sector knowledge and risk appetite may consider it after deeper due diligence.

Disclaimer
This article is for educational and informational purposes only and does not constitute financial advice. Investment decisions should be based on individual risk tolerance and consultation with SEBI-registered advisors. Market conditions are volatile and subject to change. Neither the author nor the platform is responsible for losses arising from use of this information.

The Upcoming IPOs in this week and coming weeks are BLT Logistics, Bhadora Industries, Highway Infrastructure, Parth Electricals & Engineering, Jyoti Global Plast, Essex Marine, Aaradhya Disposal Industries.

The Current active IPO are Flysbs Aviation, Cash Ur Drive Marketing, Renol Polychem, B.D. Industries (Pune), NSDL, Takyon Networks, Mehul Colours, M&B Engineering, Sri Lotus Developers & Realty.

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