SE Fruits and Vegetable IPO book-building commences

The initial public offering of SE Fruits and Vegetable Limited opened on September 21 and runs through September 22, according to Mettis Global. The export-focused, Shariah-compliant firm plans to sell 30 million ordinary shares, equal to 32.01 per cent of its paid-up capital after the issue. The floor price is Rs40 per share, and the strike price can rise by as much as 60 per cent, capped at Rs64.

Institutional buyers and high-net-worth individuals will be allocated 22.5 million shares, or three quarters of the issue, through the book-building route. The leftover 7.5 million shares, a quarter of the offering, go to retail buyers, with bidding on 28 and 29 September. Topline Securities Limited and Growth Securities Limited are serving as joint lead managers, while the company anticipates raising Rs1.20bn at the floor and Rs1.92bn at the highest price.

The funds will mainly bolster working capital, which the company says will allow larger seasonal purchasing, greater processing output and more export income from rising overseas demand. The company earned about $4m from exports in FY2026 and plans to lift that figure to roughly $18 million in FY2027. Based in Sargodha and formerly known as Shaheen Enterprises, the firm has nearly three decades in business and sells kinnow, mangoes and potatoes abroad to over 22 countries.