Share markets in India are presently trading marginally lower. Sectoral indices are trading on a mixed note with stocks in the telecom sector and realty sector witnessing maximum selling pressure. Energy stocks are trading in the green.
The BSE Sensex is trading down 100 points (down 0.3%) and the NSE Nifty is trading down by 30 points (down 0.3%). The BSE Mid Cap index is trading flat, while the BSE Small Cap index is trading up by 0.1%. The rupee is trading at 63.99 to the US$.
In the news from IPO sector, Apex Frozen Foods made a strong debut on the bourses today. The company, which ran its IPO between August 22-24, got listed at Rs 199.90 on BSE today. This represents around 14% premium over its issue price of Rs 175.
Apex Frozen Foods is an integrated producer & exporter of shelf stable quality aquaculture products. The company supplies its ready-to cook products to a diversified customer base consisting of food companies, retail chains, restaurants, club stores and distributors spread across the developed markets of USA, UK and various European countries.
This is an Andhra Pradesh based company with its processing facility located at Kakinada. It has capacity to process 9,240 MTPA of finished products. Another processing facility to process 3,000 MTPA of finished products is operated by it which is owned by Royale Marine Impex Private Limited located at Bapatla. The processing facilities are supplemented by cold storage facilities located at Kakinada and Bapatla.
The output majorly comprises of variants of processed Vannamei shrimp (White shrimp) and is sold under the brands owned by the company’s customers and also through its brands namely Bay fresh, Bay Harvest and BayPremium. The company strategically focuses on the market of USA, which is the largest importer of aquaculture products in the world.
To know more about the company, you can read our IPO note on Apex Frozen Food Ltd.
