SE Fruits & Vegetables Secures SECP Approval for IPO
SE Fruits & Vegetables received SECP clearance to issue 30 million shares, targeting up to Rs1.92 billion in capital to expand its export‑focused fruit and vegetable business.
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Desk Analysis
How This Affects the Exchange
Sector Effect
Positive · Buy bias
IPO will inject fresh capital into the agribusiness sector, supporting growth and export expansion – Buy bias on the upcoming listing.
Sectors & Direction
Desk read
Desk call: Buy bias · Positively affected
- EconomyPositively affected
Companies
Companies Mentioned
- UBL· Positively affected · Buy bias
Mentions in This Briefing
Sectors: Economy — Positive · Buy bias. PSX tickers: UBL. IPO will inject fresh capital into the agribusiness sector, supporting growth and export expansion – Buy bias on the upcoming listing.
Full Story
Open on Business Recorder## SECP Approval Granted
The Securities and Exchange Commission of Pakistan (SECP) approved the prospectus for SE Fruits & Vegetables Limited on 9 September, following the Pakistan Stock Exchange’s (PSX) nod on 7 September. This clears the way for the company’s planned initial public offering (IPO).
## IPO Structure and Timeline
- Shares offered: 30 million ordinary shares, representing 32.01 % of post‑IPO paid‑up capital. - Floor price: Rs 40 per share, with a possible strike price up to Rs 64, allowing the raise of between Rs 1.20 billion and Rs 1.92 billion. - Allocation: 75 % (22.5 million shares) via book‑building on 21‑22 September; 25 % (7.5 million shares) to the general public on 28‑29 September. - Lead managers: Topline Securities Limited and Growth Securities Limited.
## Use of Proceeds
The company says the funds will strengthen its working‑capital base, a key bottleneck for growth. Additional capital will enable larger seasonal procurement, higher processing throughput, and greater capacity to meet international demand, aiming to boost export revenues.
## Export Outlook
Currently accounting for less than 1 % of Pakistan’s roughly USD 470 million fruit‑and‑vegetable export market (FY2026), SE Fruits & Vegetables generated about USD 4 million in export sales. The IPO is intended to help raise export revenue to around USD 18 million in FY2027, lifting its market share to just under 4 %.
## Company Background
Based in Sargodha and formerly known as Shaheen Enterprises, the firm has nearly three decades of experience exporting kinnow, mangoes, potatoes and other produce to more than 22 countries. It has maintained shipments despite regional trade and logistics disruptions, benefitting from strong customer relationships and diversified market presence.
## Market Implications
With regulatory approvals secured, the IPO is expected to provide the capital needed for working‑capital relief and export expansion, potentially enhancing the visibility of Pakistan’s agribusiness sector on the PSX.