SE Fruits and Vegetable Limited has secured approval from the Securities and Exchange Commission of Pakistan (SECP) to issue and publish the prospectus for its upcoming Initial Public Offering (IPO).

The company plans to offer 30 million ordinary shares to investors as part of the public offering, marking a significant step toward its planned listing and expansion of its investor base.

According to the company, the shares will account for 32.01 percent of its paid-up capital after the IPO is completed.

The offering will carry a floor price of Rs. 40 per share, putting the minimum potential value of the issue at Rs. 1.20 billion.

However, the book-building process could push the final share price up by as much as 60 percent from the floor price.

If the maximum price of Rs. 64 per share is achieved, SE Fruits and Vegetable Limited could raise as much as Rs. 1.92 billion through the IPO.

The book-building process is scheduled to take place on September 21 and 22, allowing institutional and other eligible investors to participate in the price discovery process.

Following the book-building phase, shares will be offered to the general public for subscription on September 28 and 29.

The IPO provides investors with an opportunity to participate in the company’s future growth while giving SE Fruits and Vegetable Limited access to additional capital through the equity market.

The approval from SECP represents an important regulatory milestone for the company as it prepares to proceed with the public offering.

The IPO process will involve price discovery, allocation of shares and subsequent subscription by eligible members of the general public in accordance with the offering’s terms.

Topline Securities Limited and Growth Securities Limited have been appointed as joint lead managers for the issue.

Their role includes supporting the company through the IPO process and assisting with the execution of the offering in accordance with applicable capital market regulations.

The proposed share sale comes as Pakistan’s capital market continues to provide companies with an avenue to raise funds through public equity offerings.

For SE Fruits and Vegetable Limited, the IPO could provide additional financial resources while also increasing the company’s visibility among investors.

The difference between the Rs. 40 floor price and the potential Rs. 64 upper price means the total amount raised could range from Rs. 1.20 billion to Rs. 1.92 billion, depending on the outcome of the book-building process.

Investors interested in participating will need to review the company’s prospectus and the applicable subscription details before making any investment decision.

With regulatory approval now secured, attention will turn to the September book-building process and the subsequent public subscription phase.

The IPO is expected to remain in focus among investors watching new listings and fundraising activity on Pakistan’s capital market.

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