Mumbai: Indian shrimp exporters, at least three of whom had queued up for initial public offerings (IPO), are likely to see the launches delayed as a result of increased US tariffs on Indian shrimp exports, softer global pricing and volatility in the Indian stock markets. “Devi Sea Foods has put its initial public offering launch on hold temporarily, given the overall market conditions. The US, in March, raised the anti-dumping duty on Indian shrimps to 2.34%, from 0.84%,” said a second person aware of the IPO plans of the three companies. Nekkanti Seafoods is awaiting Sebi approval for the IPO and plans to decide the final timeline post the clearance, a spokesperson for the company said in an email response. Emails sent to Devi Sea Foods enquiring about the IPO launch plans went unanswered.

Source: Mint June 05, 2018 14:26 UTC