SE Fruits & Vegetables gets PSX approval for IPO

Mettis Global reported that SE Fruits & Vegetables Limited has received Pakistan Stock Exchange approval for its initial public offering. The Sargodha-based horticulture exporter, formerly known as Shaheen Enterprises, is seeking to raise between Rs1.2 billion and Rs1.92 billion. The funds are meant to support working capital and widen processing and export capacity.

The company intends to sell 30 million ordinary shares, amounting to 32.01% of the post-IPO paid-up capital, starting from a floor of Rs40 per share. Book building allows the price to climb by up to 60%, capped at Rs64 per share. Of the amount raised at the floor price, about Rs940.2 million or 78% will go to working capital, with the balance split among cold-chain processing, offices in the UAE and Uzbekistan, ERP and asset tracking, and solar energy.

The company projects FY2027 revenue of Rs5.05 billion and profit after tax of Rs680 million once the IPO funds are deployed. Kinnow exports reached only 5,115 tonnes in FY2026 against indicated demand of around 65,130 tonnes, which the company links to its working-capital constraint. It has also stayed debt-free since FY2024.