SE Fruits IPO book-building begins at PKR 40 per share

SE Fruits and Vegetable Limited began its two-day IPO book-building process on September 21, with 22.5 million shares available to institutional and high-net-worth investors as the export-oriented, Shariah-compliant company moves toward listing on the Pakistan Stock Exchange.

The full IPO comprises 30 million ordinary shares, representing 32.01% of the company’s post-IPO paid-up capital, at a floor price of PKR 40 per share.

The strike price can rise by up to 60% through book building, taking the maximum price to PKR 64 per share.

How much could SE Fruits raise from the IPO?

SE Fruits could raise PKR 1.20 billion if all 30 million shares are issued at the PKR 40 floor price. If bidding pushes the strike price to the PKR 64 upper limit, the company could raise up to PKR 1.92 billion.

Under the offering structure, 22.5 million shares, representing 75% of the issue, are being offered through book building.

The remaining 7.5 million shares, or 25% of the issue, will be offered to the general public on September 28 and 29.

Topline Securities Limited and Growth Securities Limited are acting as joint consultants to the issue.

How will SE Fruits use the IPO proceeds?

The company plans to use the proceeds primarily to strengthen its working-capital position.

The additional funding is expected to support larger seasonal procurement, increase processing throughput and help the company convert growing international demand into higher export revenue.

SE Fruits generated approximately USD 4 million in export revenue during FY26 and plans to increase that figure to around USD 18 million in FY27.

What does SE Fruits and Vegetable Limited do?

Based in Sargodha, the company previously operated as Shaheen Enterprises and has a track record spanning nearly three decades.

SE Fruits exports kinnow, mangoes, potatoes and other agricultural produce to more than 22 countries.