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Apex Frozen Foods IPO Prospectus
What Are Analysts Saying?
IPO Note: Apex Frozen Foods IPO - SMC
SMC, 22 Aug 2017
Considering the P/E valuation on the upper end of the price band of Rs. 175, the stock is priced at pre issue P/E of 17.21x on its FY17 EPS of Rs. 10.17 Post issue, the stock is priced at a P/E of 22.41 x on its EPS of Rs. 7.81.
Apex Frozen Foods IPO: Subscribe for listing as well as long term gains
Nirmal Bang, 22 Aug 2017
According to Nirmal Bang, AFFL has shown consistent growth in sales as well as profitability. Sales have grown at 28.6% CAGR between FY13-17 while PAT grew by 27.6% during the same period with consistently higher RoE of over 25%. Shrimp business in India is growing and the company has vast opportunities for exports as well.
Apex Frozen Foods IPO: Available at attractive valuations amongst its peers; Subscribe
Rudra Shares and Stock Brokers, 22 Aug 2017
According to Rudra Shares, eyeing on its valuation, Apex P/E works out at 17.21x (at upper end) & is available at attractive valuations amongst its peers. We recommend to SUBSCRIBE for this IPO. They are highlighting proven and experienced management as one of the company\'s strengths.
Apex Frozen Food IPO: Subscribe to the issue with long term perspective - SPA Securities
SPA Securities, 22 Aug 2017
In next 5 years, Shrimp exports are expected to grow at a CAGR of 17-19% in value terms. AFF will utilize IPO proceeds worth INR 900 mn for expansion of its processing facility to cater to increasing demand in global market and increased value added proportion. Subscribe.
Apex Frozen Foods - IPO - An Apex Buy
Punit Jain, 21 Aug 2017
According to JainMatrix Investments, the IPO will enable Apex to more than double shrimp processing capability. This is a good opportunity as current capacity utilization is in the 80-90% range. With the exports focus, demand may not be a constraint, so Apex should be able to grow fast after new capacity commissioning.
Issue Details
Open Date: 22 Aug 17
Close Date: 24 Aug 17
Offer Price: Rs. 171
Issue Size: Rs. 152.25 Cr
Min Application Amount:
Rs. 13680
Min bid (No. of shares): 80
Listing Exchanges: BSE, NSE
About the Company
"Incorporated in 1995, Apex Frozen Foods Limited is in the business of produces and exports aquaculture products. They supply their products to food companies, retail chains, restaurants, club stores and distributors. Apex produces two kinds of shrimps namely the Whiteleg shrimp (Litopenaeus vannamei) and the Black Tiger Shrimp (Penaeus monodon).

They have operations in the United States, United Kingdom and various European countries. Company's output majorly comprises of variants of processed Vannamei shrimp (White shrimp) and are sold under the brands namely Bay fresh, Bay Harvest and BayPremium."
Objective of the Issue
"Objects of the Issue:

The object of the issue are to:

1. Setting up a new shrimp processing unit with a proposed capacity of 20,000 MT PA at East Godavari District, Andhra Pradesh (“Project”);
2. General Corporate purposes"
Subscription Details
Investor Category No of times
Qualified Institutional Investor -
Non Institutional Investor -
Retail Investor -
Total -