SME IPO of seafood exporter Essex Marine to debut today
Kolkata-based Essex Marine is making its debut on the BSE SME platform after raising ₹23.01 crore through its IPO at ₹54 per share.
The IPO was subscribed 2.91 times overall, with retail investors showing strong interest (4.95x), but no big institutional buyers joined in.
The stock is expected to open around its issue price, as there's no buzz in the gray market.
Who is Essex Marine?
Since 2009, Essex Marine has been processing and exporting seafood like ribbon fish, squid, and vannamei shrimp from a high-tech facility in West Bengal equipped with modern machinery.
Impressive growth in FY25
Despite a tough year for the seafood sector, Essex Marine pulled off an 89% jump in revenue (₹39.93cr) and saw profits soar by 156% to ₹4.67cr in FY25—showing some impressive growth for a niche player.