Essex Marine IPO is a fixed price issue of ₹23.01 crore, comprising entirely a fresh issue of 42.62 lakh equity shares. The IPO will open for public subscription on August 4, 2025, and close on August 6, 2025. The basis of allotment is likely to be finalised on August 7, 2025.
The shares are proposed to be listed on the BSE SME platform, with a tentative listing date set for August 11, 2025. The price of each equity share in the Essex Marine IPO is ₹54. Investors can bid in lots of 2,000 shares. For retail investors, the minimum application size is 4,000 shares, requiring an investment of ₹2,16,000.
For High Net-worth Individuals (HNIs), the minimum application is for 6,000 shares, amounting to ₹3,24,000. Khandwala Securities Limited is acting as the book-running lead manager for the Essex Marine IPO, and the registrar to the issue is Skyline Financial Services Private Limited.
For complete details about the IPO, investors should refer to the Essex Marine IPO Draft Red Herring Prospectus (DRHP).
Industry Outlook
- Fish production in India grew 81% from 2013-14 to 2022-23, touching 174 lakh tonnes, supported by vast inland and marine resources. This growth presents steady demand for marine packaging and logistics services, directly benefitting Essex Marine Limited.
- India exported 17.8 million tonnes of marine products valued at US$ 7.38 billion. With frozen shrimp contributing over 66% of export value, Essex Marine Limited, which supports marine packaging, can tap into this high-volume segment for business expansion.
- The USA, China, and Japan accounted for over 60% of Indian seafood imports in 2024-25 (till June). Essex Marine Limited can leverage this strong export ecosystem to offer specialised solutions in marine packaging, helping exporters maintain product quality and meet international standards.
Essex Marine IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- The company plans to utilise funds to expand its existing peeling capacity at its West Bengal processing unit.
- Funds will also be used to introduce a new "Ready-to-Cook" section by adding blanching at the same unit.
- Funds will also be used to meet the company’s growing working capital needs.
- A portion of the proceeds will go towards repaying or prepaying secured loans.
- Remaining funds will be used for general corporate purposes to support overall growth.
About Essex Marine Limited
Essex Marine Limited is a seafood processing and export company based in Kolkata, West Bengal. Incorporated in 2009 as Rajsen Impex Private Limited, the company changed its name to Essex Marine Private Limited in 2013 and later became a public limited company in February 2025.
With over 16 years of experience, Essex Marine Limited is engaged in processing and exporting frozen fish and shrimp under the brand name “Essex.” The company operates a modern processing facility located in Shankarpur, West Bengal, near one of the largest landing centres on India’s eastern coast.
The facility is equipped with advanced machinery and holds certifications such as FSSC V5.1, BRC Global Standard, and HACCP. It also runs a cold and dry storage facility in Kolkata with a capacity of 1,800 MT for storing a variety of frozen food products.
Essex Marine Limited serves customers mainly in China, Europe, and Israel, including food service distributors and warehouse chains. The company also performs job work for merchant exporters to optimise plant utilisation. A strong quality control system with an in-house lab ensures global standards are met at every stage of processing.
The company plans to double its peeling capacity from 10.8 to 21.6 tons per day and expand into the “ready-to-cook” frozen seafood segment by adding a blanching section. These expansions are aimed at improving efficiency and meeting growing international demand.
Essex Marine Limited holds “One Star Export House” status and continues to focus on quality, timely delivery, and customer satisfaction.
How To Check the Allotment Status of Essex Marine IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How To Apply for the Essex Marine IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Essex Marine IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of Essex Marine IPO
Registered office: 19, Pollock Street, 7th Floor, Room No.7, Kolkata – 700001, West Bengal, India
Phone: +91 33 22627928
E-mail:cs@essexmpl.com
Essex Marine IPO Reservation
|
Investor Category |
Shares Offered |
|
Retail Shares Offered |
50% of the Net Issue |
|
NII Shares Offered |
50% of the Net Issue |
Essex Marine IPO Lot Size
|
Application |
Lots |
Shares |
Amount |
|
Individual investors (Retail) (Min) |
2 |
4,000 |
₹2,16,000 |
|
Individual investors (Retail) (Max) |
2 |
4,000 |
₹2,16,000 |
|
HNI (Min) |
3 |
6,000 |
₹3,24,000 |
Essex Marine IPO Promoter Holding
The promoters of the company include Debashish Sen and Kajari Sen.
|
Share Holding Pre-Issue |
99.99% |
|
Share Holding Post Issue |
72.08% |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Key Performance Indicators for Essex Marine IPO
|
KPI |
Value |
|
Debt/Equity |
2.97 |
|
ROE (%) |
15.06 |
|
RoCE (%) |
14.40 |
|
RoNW (%) |
14.01 |
|
PAT Margin (%) |
9.52 |
|
Price to Book Value |
4.56 |
Essex Marine IPO Prospectus
Essex Marine IPO Registrar and Lead Managers
Essex Marine IPO Lead Managers
- Khandwala Securities Limited
Registrar for Essex Marine IPO
Skyline Financial Services Private Limited
- Contact Number: 02228511022
- Email Address: ipo@skylinerta.com
Essex Marine IPO Registrar
Financial Performance of Essex Marine Limited
| Particulars | Year ending on March 31, 2024 | Year ending on March 31, 2023 |
|---|---|---|
| Revenue from Operation (in ₹ lakh) | 1,915.02 | 2,189.76 |
| Profit After Tax (in ₹ lakh) | 182.29 | 202.65 |
| Earnings per share (in ₹) | 3.31 | 3.68 |
| Net Worth (in lakh) | 1,301.40 | 1,119.11 |
| Return on Equity (%) | 15.06 | 19.91 |
| Return on capital employed (RoCE) (%) | 14.40 | 17.14 |
| EBITDA (in ₹ lakh) | 498.69 | 601.34 |
Know before investing
Strengths
8Strategically located plant near Shankarpur ensures low-cost access to raw materials.
Peeling capacity to double from 10.8 to 21.6 tons daily.
Repeat orders contributed ₹2,407.42 lakh or 80.62% of operational revenue in 2024.
Export presence in China, Europe, Israel showcases strong global market reach.
Certified with FSSC V5.1, BRC, and HACCP for international quality compliance.
Top ten customers contributed ₹2,334.90 lakhs or 83.37% of revenue in 2024.
Ready-to-cook segment expansion with ₹78.25 lakh investment shows future growth intent.
Rising global seafood demand and government support offer major growth opportunities.
Risks
8Biosecurity risks and shrimp diseases like White Spot can disrupt operations severely.
Outbreaks like Early Mortality Syndrome may reduce shrimp supply and revenues.
Heavy revenue dependence on two products limits diversification and market flexibility.
Top five customers contributed 53.30% revenue, making Essex vulnerable to demand shifts.
₹2,407.42 lakh revenue from repeat orders, any reduction may hurt operations.
International operations face legal, tax, and currency risks across China, Europe, Israel.
No firm contracts in the job work segment may lead to revenue loss.
Contamination or spoilage during handling may lead to lawsuits and product recalls.
Essex Marine Limited Peer Comparison
| Company Name | EPS (Basic) | NAV (per share) (₹) | P/E (x) | RoNW (%) |
|---|---|---|---|---|
| Essex Marine Limited | 1.66 | 11.83 | - | 14.01 |
| Kings Infra Ventures Limited | 3.22 | 23.57 | 26.30 | 13.24 |
| Zeal Aqua Limited | 0.66 | 6.27 | 10.50 | 10.47 |
