The IPO market is seeing a wave of new listings, and Essex Marine Ltd. is making its debut with a fixed-price issue. The company, a specialist in processed seafood, is launching an IPO to raise ₹23.01 crores, with the subscription window open from August 4 to August 6, 2025. This fresh issue offers investors a chance to invest in a company that plays a crucial role in India’s marine food export market. With a focus on quality and a strategic expansion plan, the Essex Marine IPO presents a unique prospect in the food processing sector.
About Essex Marine Ltd.
Incorporated in 2009, Essex Marine Ltd. is a prominent seafood processing and exporting company based in Kolkata, West Bengal. The company is an integrated player in the processed frozen fish and shrimp supply chain, from sourcing raw materials to processing and distribution to international markets. Operating under its brand name “Essex,” the company exports its products, including marine and aquaculture vannamei shrimp, primarily to customers in China, Belgium, and Japan.
With its modern processing facility located strategically near a major landing centre on the eastern coast of India, the company ensures access to a consistent supply of quality raw materials. The company’s commitment to quality is underscored by its adherence to international standards and a well-established supply chain.
Essex Marine Ltd. IPO Details
The Essex Marine IPO is a fixed-price issue of 42.62 lakh fresh shares, aggregating up to ₹23.01 crores. The issue price is set at ₹54 per share, with a face value of ₹10 per share. The shares will be listed on the BSE SME platform.
Important IPO Timeline:
| Event | Date |
| IPO Open Date | Mon, Aug 4, 2025 |
| IPO Close Date | Wed, Aug 6, 2025 |
| Tentative Allotment | Thu, Aug 7, 2025 |
| Initiation of Refunds | Fri, Aug 8, 2025 |
| Credit of Shares to Demat | Fri, Aug 8, 2025 |
| Tentative Listing Date | Mon, Aug 11, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Aug 6, 2025 |
Key IPO Details
| Particulars | Details |
| Face Value | ₹10 per share |
| Issue Price | ₹54 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 42,62,000 shares (aggregating up to ₹23.01 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,10,00,000 shares |
| Share Holding Post Issue | 1,52,62,000 shares |
Lot Size of Essex Marine Ltd. IPO
| Application | Lots | Shares | Amount |
| Individual investors (Retail) (Min) | 2 | 4,000 | ₹2,16,000 |
| Individual investors (Retail) (Max) | 2 | 4,000 | ₹2,16,000 |
| HNI (Min) | 3 | 6,000 | ₹3,24,000 |
Essex Marine Financial Performance
Essex Marine has a history of fluctuating revenue but has maintained consistent profitability. The company reported revenue of ₹21.11 crores and a Profit After Tax (PAT) of ₹1.82 crores in FY24. In the previous year (FY23), revenue was ₹23.59 crores and PAT stood at ₹2.03 crores. While revenue showed a dip between FY22 and FY24, the company has managed to maintain stable profitability, which reflects its operational resilience. The latest financials for the nine months ended December 31, 2024, show an improved trajectory, with revenue reaching ₹29.86 crores and a PAT of ₹4.1 crores.
Key Performance Indicators (as of March 31, 2025)
- ROE: 15.06%
- ROCE: 14.40%
- Debt/Equity: 2.97
- RoNW: 14.01%
- PAT Margin: 9.52%
- Price to Book Value: 4.56
Financial Snapshot (₹ in crores)
| Period Ended | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 49.75 | 34 | 40.99 | 43.89 |
| Total Income | 29.86 | 21 | 23.59 | 63.01 |
| Profit After Tax | 4.1 | 2 | 2.03 | 1.73 |
| Net Worth | 17.11 | 13 | 11.19 | 9.16 |
| Reserves and Surplus | 11.61 | 8 | 5.69 | 3.66 |
| Total Borrowing | 20.91 | 16 | 19.34 | 26.52 |
Essex Marine Ltd.: Industry Outlook
The Indian seafood industry is a major global player, with key growth drivers including:
- Growing global demand: The demand for processed and frozen seafood is consistently rising in international markets, especially in Asia, Europe, and the Middle East.
- Government support: The government’s initiatives to boost marine exports and improve aquaculture infrastructure are creating a favourable environment for companies in this sector.
- Value-added products: The shift from raw seafood exports to value-added products like processed, frozen, and “Ready-to-Cook” items is a key trend, offering higher margins and greater market stability.
- Technological advancements: Modernisation of processing facilities and adherence to international quality standards (like HACCP) are essential for accessing premium export markets.
- Focus on sustainability: Growing global emphasis on sustainable fishing practices and traceability provides a competitive advantage to organised players.
Use of IPO Proceeds
The funds raised from this Essex Marine IPO will be used for the following purposes:
| S.No. | Objects of the Issue | Expected Amount (in Millions) |
| 1 | Expansion of peeling capacity at the existing processing unit located at Shankarpur Road, Kaluya Sanda, Kuliyata, West Bengal 721441 | 25 |
| 2 | Setting up a “Ready-to-Cook” section by adding blanching capabilities at the existing unit on Shankarpur Road, Kaluya Sanda, Kuliyata, West Bengal 721441 | 8 |
| 3 | Financing the working capital requirements of the Company | 60 |
| 4 | Repayment or pre-payment, in part or full, of certain borrowings availed by the Company | 60 |
| 5 | For general corporate purposes | – |
Essex Marine Ltd. IPO Peer Comparison
As a specialised seafood processing and exporting company, Essex Marine operates in a niche segment. While it’s a small-cap company, peers for comparison within the listed space include larger, more established players in the food and marine products sector like Kings Infra Ventures Ltd. and Zeal Aqua Ltd. A comparison with these companies can provide a useful perspective on market position, operational strategies, and financial metrics.
Conclusion
The Essex Marine IPO offers a compelling opportunity for investors interested in the marine foods and export sector. With a strong presence in international markets, a clear strategic plan for capacity expansion, and a move into the high-growth “Ready-to-Cook” segment, the company appears well-positioned for future growth. While the company’s financial history shows some fluctuations, its ability to maintain profitability and its planned use of IPO funds for strategic growth are positive signs. As with any investment, it is crucial to perform thorough due diligence and consult with a financial advisor.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO listings to stay updated on the latest market offerings.
