Photo: Aniruddha Chowdhury/MintMumbai: Several seafood exporters are looking to go public, with at least four of them firming up their IPO plans, buoyed by strong growth in the sector. Devi Seafoods plans to raise Rs900 crore through its initial public offering (IPO), while Sandhya Marines is looking to raise around Rs500-600 crore. Last week, VCCircle reported that Devi Fisheries, another Andhra Pradesh-based seafood exporter, has appointed investment banks for its IPO. Seafood companies’ IPO plans are supported by a robust industry that is showing brisk growth. While other countries are taking measures to improve their exports, Crisil expects India to remain the top shrimp exporter in the medium term.

Source: Mint March 07, 2018 19:18 UTC