Captain Fresh files confidential IPO papers
The Bengaluru-based seafood supply chain firm plans to raise Rs 1,700 crore via fresh issue as part of its upcoming IPO. The IPO is expected to include an offer-for-sale as well, bringing the total size of the offering to about $350 million–400 million.
Bengaluru-based seafood supply chain startup Captain Fresh is preparing for the public markets with a plan to raise Rs 1,700 crore (about $200 million) through a fresh issue of shares, according to regulatory filings.
The Tiger Global-backed firm has reclassified itself as a public limited company under the name Infifresh Foods Ltd, and has filed confidential papers with India’s markets regulator as it gears up for an initial public offering (IPO).
The IPO is expected to include both a fresh issue and an offer-for-sale, bringing the total size of the offering to about $350 million–400 million, people familiar with the matter said. Captain Fresh’s board cleared a special resolution earlier this month approving the fresh issue, the filings show.
Proceeds from the fresh issue are earmarked for debt repayment.
The company is in the process of submitting a draft red herring prospectus to the Securities and Exchange Board of India (SEBI). Its shares will be listed on the National Stock Exchange and the Bombay Stock Exchange following approvals.
The seafood player has also strengthened governance ahead of the listing. In July, it appointed three independent directors—Durgesh Kumar Singh, Anil Berara, and Harita Gupta—to its board.
Founded in 2020 by Utham Gowda, Captain Fresh has grown into a multi-species, multi-geography seafood platform that manages supply chain transactions across the seafood ecosystem. The company sources and distributes a range of products for domestic and export markets, positioning itself as a tech-enabled bridge between fishermen, distributors, and retailers.
Edited by Swetha Kannan