Captain Fresh to Raise ₹1,700 Crore via Fresh Issue in IPO: Filed DRHP via Confidential Route

Captain Fresh, a global packaged seafood startup backed by Tiger Global, is gearing up to raise ₹1,700 crore (approximately $200 million) through a fresh issue of equity shares as part of its upcoming initial public offering (IPO). The total IPO size is expected to range between $350 million and $400 million, which will include both the fresh issue and an offer for sale (OFS) by existing shareholders.

As mentioned in a news report by Entrackr, the company's board approved a special resolution earlier this month authorising the fresh equity issuance. This development follows closely on the heels of Captain Fresh’s conversion into a public limited company.

Post regulatory clearances, its shares are slated to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

About Captain Fresh

Founded in 2020 by Utham Gowda, Captain Fresh operates as a multi-species, multi-geography seafood platform, facilitating seamless transactions across various players in the seafood supply chain.

The company has raised over $200 million in funding to date. This includes a $30 million pre-IPO round in January 2025, backed by investors such as Prosus, Accel, Tiger Global, and others. Notable backers of Captain Fresh also include Matrix Partners and Ankur Capital.

Also Read: SEBI Proposes Relaxation in IPO and MPS Rules for Large Issuers

While FY25 financials are yet to be disclosed, Captain Fresh reported a 71% surge in gross revenue (GMV), rising to ₹1,395 crore in FY24 from ₹817 crore in FY23. The company also trimmed its net loss by 22% during the same period, reducing it to ₹229 crore.

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