SE Fruits and Vegetable secures SECP approval for IPO

Business Recorder reported that SE Fruits and Vegetable Limited has secured approval from the Securities and Exchange Commission of Pakistan to circulate and publish its prospectus for an initial public offering. The SECP approval is dated September 9, and it followed the Pakistan Stock Exchange clearing the issue on September 7. The Sargodha-based exporter plans to sell 30 million ordinary shares, equal to 32.01% of its post-IPO paid-up capital.

The offer carries a floor price of Rs40 per share, and the strike price could climb by up to 60% to Rs64 through book building. At those levels, the company could raise between Rs1.20 billion and Rs1.92 billion. Of the 30 million shares, 22.5 million will be allocated through book building and 7.5 million will go to the general public. Bids are taken on September 21 and 22, and public subscription runs on September 28 and 29.

The issue has Topline Securities and Growth Securities Limited as its joint lead managers. The company said the capital would ease its working-capital constraints, which it sees as a main barrier to growth, while funding larger seasonal purchases, higher processing volumes and stronger conversion of export orders. Export receipts reached $4 million during FY26, and the target is roughly $18 million for FY2027, which could take its share of the market to just under 4%.