SE Fruits and Vegetable gets SECP nod for IPO to raise up to Rs1.92 billion

According to Profit, the Securities and Exchange Commission of Pakistan has cleared the prospectus of SE Fruits and Vegetable Limited for an IPO of 30 million ordinary shares, a deal that could bring in up to Rs1.92 billion. The regulator's approval, dated September 9, followed the exchange's clearance on September 7. The shares equal 32.01% of the company's post-IPO paid-up capital.

The floor price stands at Rs40 per share, while the final strike price, set through book building, could sit up to 60% higher, with a ceiling of Rs64 per share. That range implies total proceeds of Rs1.20 billion to Rs1.92 billion. Of the 30 million shares, 22.5 million or 75% are offered through book building, and the remaining 7.5 million go to the general public. Topline Securities and Growth Securities act as joint lead managers.

Book building is set for September 21 and 22, with public subscription on September 28 and 29. Proceeds are meant for working capital, to support seasonal procurement, processing capacity and established international demand. SE Fruits recorded export revenue of $4 million in FY26 and targets about $18 million in FY27, a shift that might lift its share of the market to nearly 4%. The Sargodha-based firm, formerly Shaheen Enterprises, has operated for nearly three decades and ships kinnow, mangoes, potatoes and other produce to more than 22 countries.