Green Asia Impex’s ₹60.10 Crore IPO Opens 24 September, Minimum Bid Costs ₹2.88 Lakh

Mumbai: Green Asia Impex will open its Rs 60.10 crore initial public offering on 24 September, seeking funds to build a seafood processing facility. The NSE Emerge issue closes on 28 September.

Issue terms and minimum investment

The price band is Rs 85–Rs 90 a share. Investors must bid for at least two lots of 1,600 shares each, making the minimum application 3,200 shares, or Rs 2.88 lakh at the upper end of the band. Subsequent bids must be in multiples of 1,600 shares.

At the upper price, the offer comprises a Rs 53.10 crore fresh issue and a Rs 7 crore offer for sale. Proceeds from the fresh issue will finance capital expenditure on the proposed seafood processing facility, including plant, machinery and equipment, alongside general corporate purposes. Money raised through the offer for sale goes to the selling shareholders.

Allocation and intermediaries

Qualified institutional buyers will receive no more than 30% of the offer. At least 35% is earmarked for non-institutional investors and at least 35% for retail individual investors.

Indorient Financial Services is the book-running lead manager, while Bigshare Services is the registrar. The company proposes to list its shares on NSE Emerge, the exchange’s platform for small and medium-sized enterprises.

Shrimp capacity in focus

Green Asia Impex processes and sells shrimps and dry chillies in India and overseas. Managing director Pasupuleti Venkata Rama Rao said the business had developed from dry chillies exports into a broader agri-processing operation, with shrimps now its principal growth driver.

He said its customer markets include China, the US, Southeast Asia, the Middle East and the UK. The company aims to expand its processing capacity and product range following the issue.

Indorient director Amina Khan said greater seafood processing capacity and value addition could support the company’s future requirements. Investors will be watching how effectively the proposed facility converts fresh capital into sales and earnings, particularly given the operating risks associated with commodity prices and export demand.