Captain Fresh Files for ₹1,700 Crore IPO, Eyeing ₹1,200 Crore Fundraise
Captain Fresh, a B2B seafood supply chain startup, has filed confidential IPO papers with SEBI. The company aims to raise approximately ₹1,200 crore through fresh share issuance of ₹1,700 crore, with a total issue size estimated at $400 million. The IPO proceeds will be used for debt repayment. Captain Fresh reported revenue of ₹3,200 crore, with over 98% generated from overseas markets. The company has raised over $200 million to date and expanded operations globally.
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Captain Fresh, operating under the legal name Infifresh Foods Limited, has taken a significant step towards going public by filing confidential Initial Public Offering (IPO) papers with the Securities and Exchange Board of India (SEBI). The B2B seafood supply chain startup is aiming for a substantial fundraise through this move.
IPO Details
The company's IPO plans include:
- Total fresh share issuance: ₹1,700 crore
- Expected fundraise: Approximately ₹1,200 crore
- Total issue size (including offer for sale): Estimated at $400 million
The proceeds from the IPO are earmarked for debt repayment, indicating the company's intention to strengthen its financial position.
Financial Performance
Captain Fresh has reported impressive financial figures:
| Metric | Amount (₹ crore) |
|---|---|
| Revenue | 3,200.00 |
| EBITDA | 120.00 |
| Net Profit | 40.00 |
Notably, over 98% of the company's revenue is generated from overseas markets, including the United States, Europe, Middle East, and China, highlighting its strong global presence.
Company Background
Founded in 2019, Captain Fresh has quickly established itself as a significant player in the B2B seafood supply chain sector. The company has successfully raised over $200 million to date, with a recent pre-IPO round of $30 million from prominent investors such as Prosus, Accel, and Tiger Global.
Global Expansion and Governance
Captain Fresh has been expanding its global footprint, with operations in major cities including Chicago, Paris, Dubai, Madrid, and Oslo. This international presence aligns with its revenue sources, predominantly from overseas markets.
In preparation for its public listing, the company has bolstered its corporate governance by adding three independent directors to its board, signaling a commitment to transparency and regulatory compliance.
The IPO filing by Captain Fresh marks a significant milestone for the young company, reflecting its rapid growth and ambitions in the global seafood supply chain market. As the IPO process unfolds, investors and industry observers will be keenly watching this emerging player in the B2B seafood sector.
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