Essex Marine IPO: Price, GMP, Analysis, And Details

Essex Marine IPO- Company Analysis 

Essex Marine IPO under the SME IPO category is a fixed price issue of Rs. 23.01 Cr by Essex Marine Ltd, which was incorporated in 2009 and processes and exports seafood.

Quality fish and aquaculture goods, such as ribbon fish, eel fish, marine fish, squid, and mackerel, are sourced, processed, stored, and exported by the corporation to nations including China, Belgium, and Japan.

Following worldwide standards like HACCP, GMP, SSOP, FSSAI, and BRC, its processing facility in Midnapur, West Bengal, is outfitted with state-of-the-art equipment, including IQF with Glazer and Hardener, plate freezers, blast freezers, and cold storage chambers.

The business sources from the eastern coast of India, processes its products, and exports them to clients abroad. It works along the frozen fish and shrimp supply chain.

Portfolio of Products:

• Fish.

• Shrimp.

• Vannamei shrimp aquaculture.

 

Essex Marine IPO Details

The Essex Marine IPO date is on 04 August 2025, and its initial public offering will end on 06 Aug with IPO allotment on Aug 07, and refund initiation on Aug 08, 2025.

The Rs. 23.01 crore new SME IPO comprises a wholly fresh issue of 42.62 lac shares.

The Essex Marine IPO listing date (expected) might be on Monday, Aug 11, 2025, and listing at the BSE and SME. 

The Essex Marine IPO price band is Rs. 54.

Essex Marine IPO Timetable (Tentative)

Events	Date
IPO Opening Date	Aug 04, 2025
IPO Closing Date	Aug 06, 2025
IPO Allotment Date	Aug 07, 2025
Refund Initiation	Aug 08, 2025
IPO Listing Date	Aug 11, 2025

 

 

Click to open demat account and apply for the IPO.

Company Financials

(Amount in Cr)

Period	31 Dec 2024	31 Mar 2024	31 Mar 2023
Total Assets	49.75	34.26	40.99
Total Revenue	29.86	21.11	23.59
PAT	4.1	1.82	2.03
Net Worth	17.11	13.01	11.19
Reserves & Surplus	11.61	7.51	5.69
Borrowings	20.91	16.08	19.34

 

Cash Flows

(Amount in lac)

Net Cash Flow in Multiple Activities	31 Dec 2024	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	(276.58)	510.87	778.17
Net Cash Flow Investing Activities	(54.74)	(63.79)	(10.70)
Net Cash Flow Financing Activities	306.37	(504.73)	(974.64)

 

Revenue Bifurcation

Product-wise Revenue Breakdown

State-wise Revenue Breakdown

Export Sales Breakdown

(Source: RHP)

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• Working capital needs.

• Expansion of the current peeling capacity at the Shankarpur Road processing facility in West Bengal.

• Establishing a "Ready-to-Cook" Section at the current processing facility located in West Bengal, by including blanching in the current procedure.

• Full or partial repayment or prepayment of specific loans that the company has taken out.

• General corporate purposes.
  
  

Listed Peers of Essex Marine Ltd.

Company Name	Face Value (Rs.)	EPS (Rs.)	P/E (x)
Kings Infra Ventures Limited	10	3.22	26.30
Zeal Aqua Limited	1	0.66	10.50

 

Valuation

Metric	Value
ROE	15.06%
ROCE	14.40%
Debt/Equity	2.97
RoNW	14.01%
PAT Margin	9.52%
Price to Book Value	4.56

 

Evaluation of P/E Ratio

Considering the FY ended on 31 Mar 2024 with an EPS of Rs. 1.66 from the last year, the resulting P/E ratio is 32.53x (taking the upper price). When compared with the industry’s average P/E of 18.50x, it indicates an overvaluation (on a P/E ratio basis only). Hence, the price of the Share seems aggressively priced for the investors.

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IPO's Strengths 

• The processing unit's strategic position.

• Geographical existence.

• The items' quality assurance and control.

• Enduring, friendly, and solid relationship with the clients.

• Economical manufacturing and prompt order fulfillment.
  
  

 

 

IPO’s Weaknesses

• There are no long-term agreements between Essex Marine and its clients. As a result, future revenue streams may become uncertain and erratic due to order fluctuations.

• Numerous laws and environmental requirements apply to operations. Fines or disruptions to business operations may result from any infractions or changes to the regulations.

•  The business is capital-intensive and needs a significant amount of working capital.  Any disparity in cash flow could strain daily operations or force more borrowing, both of which would have an impact on financial stability.
  
  

Essex Marine IPO GMP (Grey Market Premium)

Essex Marine IPO GMP today is Rs. 3 as of 02 Aug 2025 at the time of writing this information. Hence, the Essex Marine IPO listing price (estimated) might be Rs. 57 (upper price + current GMP or grey market premium).

Essex Marine IPO Summary

The Essex Marine Ltd. IPO has a market maker portion size of 2,14,000 Shares (Rs. 1.16 Cr).

IPO Opening & Closing Date	04 Aug, 2025 to 06 Aug, 2025
Face Value	Rs. 10 per Share
Issue Price	Rs. 54 per Share.
Lot Size	2000 Shares
Issue Size	42,62,000 Shares (Rs. 23.01 Cr)
Offer for Sale	-
Fresh Issue	42,62,000 Shares (Rs. 23.01 Cr)
Listing at	BSE, SME
Issue Type	Fixed Price Issue
Registrar	Skyline Financial Services Private Ltd.

Essex Marine IPO Lot Details 

Retail investors can invest in a minimum and maximum of 2 Lots (4000 Shares) for Rs. 2,16,000 and in multiples thereof, while for S-HNI investors, the minimum Lot is 3 (6000 Shares) for Rs. 3,24,000.

Minimum Lot Investment (Retail)	2 Lots
Maximum Lot Investment (Retail)	2 Lots
S-HNI (Min)	3 Lots

 

 

IPO Reservation (% of Net Issue)

Retail’s Portion	50%
Non-Institutional Portion	50%

 

Essex Marine IPO Allotment Status

To check the Essex Marine IPO Allotment Status, visit the official Registrar’s website or the BSE website. Below are the website links for you.

Using Registrar’s Website- Skyline IPO allotment status​

Using BSE Website- ​BSE IPO allotment status

Promoters And Management of Essex Marine Ltd.

• Debashish Sen

• Kajari Sen.

Pre-Issue Promoter Shareholding	99.99%
Post-Issue Promoter Shareholding	72.08%

 

IPO Lead Managers

•  Khandwala Securities Limited.
  
  

Dividend Policy

The company has not paid any dividends during the last three years.

 

 

Conclusion

With its state-of-the-art facilities and global certifications, Essex Marine IPO offers investors a path into India's expanding seafood export industry. Risks include no long-term contracts and a high debt-to-equity ratio, even with encouraging financials and solid client relationships. Investors should carefully consider values as the IPO seems to be priced aggressively in comparison to its industry peers.

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.