SE Fruits & Vegetables Secures PSX Approval for Up to Rs 1.92 Billion IPO
SE Fruits & Vegetables Limited received PSX clearance to raise between Rs 1.2 billion and Rs 1.92 billion through a 30 million‑share IPO, earmarking most proceeds for working capital and expansion.
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Desk Analysis
How This Affects the Exchange
Sector Effect
Neutral · Watch
New agribusiness IPO adds sector depth but no immediate effect on existing listed stocks; watch for future trading activity.
Sectors & Direction
Desk read
Desk call: Watch · Neutral effect
- EconomyNeutral effect
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- UBL· Neutral effect · Watch
Mentions in This Briefing
Sectors: Economy, Markets — Neutral · Watch. PSX tickers: UBL. New agribusiness IPO adds sector depth but no immediate effect on existing listed stocks; watch for future trading activity.
Full Story
Open on ProPakistani## PSX Approval Granted
SE Fruits & Vegetables Limited (formerly Shaheen Enterprises) has been approved by the Pakistan Stock Exchange to launch an initial public offering. The company will issue 30 million ordinary shares, representing 32.01 % of its post‑IPO paid‑up capital.
## Offering Details
- Floor price: Rs 40 per share - Maximum price (book‑building): Rs 64 per share (up to 60 % above floor) - Proceeds range: Rs 1.2 billion at the floor price to Rs 1.92 billion at the top of the range - Allocation: 22.5 million shares (75 %) via book‑building, 7.5 million shares (25 %) to the general public
## Use of Funds
The company plans to allocate the IPO proceeds as follows: - Working capital: Rs 940.2 million (78 % of floor‑price proceeds) - Cold‑chain and processing expansion: Rs 153.8 million - International offices (UAE & Uzbekistan): Rs 50 million - ERP and asset‑tracking systems: Rs 30 million - Solar energy and grid‑related investment: Rs 26 million
## Company Background & Performance
Based in Sargodha, SE Fruits & Vegetables exports kinnow, mango and potato to the Middle East, Far East, South Asia and Central Asia. In FY 2026 the firm reported: - Net revenue: Rs 2.133 billion (24 % YoY growth) - Profit after tax: Rs 303.8 million - Debt‑free status since FY 2024 - CAGR (2022‑2026): Revenue 28 %, PAT 31 % The company’s seasonal kinnow processing capacity stands at 36,000 tonnes, while demand from existing and potential buyers is estimated at 65,130 tonnes.
## Outlook
Management projects FY 2027 revenue of Rs 5.05 billion (≈ 137 % increase) and PAT of Rs 680 million (≈ 124 % increase), with forward EPS estimated at Rs 7.25.
## Market Implications
The IPO adds a new agribusiness listing to the PSX, potentially broadening investor exposure to Pakistan’s fruit export sector. The substantial working‑capital allocation may improve the company’s liquidity and capacity to meet rising export demand.