Seafood supplier Captain Fresh eyes ₹1,700cr IPO
Captain Fresh, a fast-growing seafood supplier, is planning an IPO to raise about ₹1,700 crore (roughly $200 million).
Approved by the board in July 2025, this move is part of a bigger fundraising goal of $350-400 million.
Shares will hit the BSE and NSE once regulators give the green light.
What does Captain Fresh do?
Started in 2019 by Utham Gowda, Captain Fresh runs a tech-driven B2B seafood marketplace—think fish, crabs, and lobsters sourced from three oceans and shipped worldwide.
Over 98% of its demand comes from places like the US, Europe, and the Middle East.
Their supply chain connects suppliers directly with businesses across multiple channels.
Financials and future projections
The company's gross merchandise value shot up 71% to ₹1,395 crore in FY24 (from ₹817 crore in FY23), while net losses shrank by 22%.
Captain Fresh has already raised over $200 million—including $30 million just before this IPO push—and expects FY25 revenue to reach around $525-550 million (about ₹4,620 crore).
The draft prospectus is now headed to SEBI for review.