Devi Seafoods IPO – Review, Allotment Status, Subscription, Price, Date & more

Devi Seafoods IPO is one of the upcoming IPO drafted with SEBI. In this Article, we will do a detailed review of Devi Seafoods IPO. Other than review, we will look into some of the important aspect of this IPO like IPO Object, Allotment Status, IPO issue details, Company background, Companies financials, IPO release date, IPO price band, Grey market pricing & more.


Devi Seafoods IPO Review & Ratings

Devi Seafoods IPO Ratings & Review
CriteriaRatings
Industry Sentiments8.6/10
Industry Ranking8.2/10
Company Background8.4/10
Company Reputation8.2/10
Competitive Edge8.1/10
Financial Statements8.3/10
Popularity Index8.2/10
Promoters Reputation8.0/10
Retail Appetite8.1/10
Top Brokers Review8.1/10
Overall Ratings8.3/10
Star Ratings★★★★☆

Summary – Devi Seafoods Limited IPO

Devi Seafoods IPODevi Seafoods is one of the largest exporter of seafoods in India. Devi Seafoods IPO is one of the three IPO drafted with SEBI from Indian Seafood Industry. Ths IPO was drafted in March 6, 2018.

Devi Seafoods Limited has hired 3 lead managers i.e. Axis Capital Limited, ICICI Securities Limited & Kotak Mahindra Capital Company Limited. These 3 lead managers will take all the responsibilities of this IPO. Karvy Computershare Private Limited is the Registrar of the Offer.

Devi Seafoods is one of the leading producer of processed shrimp and shrimp feed headquartered in Visakhapatnam, Andhra Pradesh. For fiscal year 2017, Devie Seafoods was the second largest exporter of shrimps from India in value terms and they have also received awards from MPEDA for two consecutive years (fiscal years 2016 and 2017) for being the second largest exporter (in value terms) of seafood as well as for frozen shrimps from India.


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Devi Seafoods IPO Date

Companies IPO issue date has not been released yet.

Devi Seafoods IPO Subscription

 Subscription
Day 1X
Day 2X
Day 3X
Day 4X
Day 5X

IPO release date has not been announced yet, once the IPO is released we will start posting the subscription numbers on daily basis.

Devi Seafoods IPO Allotment Status

The allotment status of the Devi Seafoods IPO will be out post 3-4 weeks of IPO subscription.

Devi Seafoods IPO Price Band

The price band of devi sea foods IPO has not been out yet. This will out soon & we will update the same.

Devi Seafoods IPO Issue Size

The IPO Issue Size will be close to INR 900 – 1000 crore.

Devi Seafoods IPO Equity Share Offerings

The Seafoods Exporter has not declared the number of shares they will release for public offerings. Once, this will be updated soon.


Devi Seafoods Limited – Company Overview

Devi Seafoods Limited is one of the largest exporter of Processed shrimps in India. The Seafood exporting company is headquartered in Vizag, Andhra Pradesh. Devi Seafoods Limited has their own processing plant, aquaculture farms & shrimp hatchery which gives them full control over the entire supply chain.

The Seafoods Processing & exporting company is always ready to adopt any new technologies required for shrimp processing of global standards. Devi Seafoods Limited has their presence in the shrimp business since more than 2 decades.

Key Members of the Company:

  • P. Bhahmanandam (Chairman & MD)
  • K A John (Whole-time Director)
  • Sambasiba Rao Gadde (Whole-time Director)

Competitive Strengths of Devi Seafoods Limited

  • Leading market position in the fast-growing processed shrimp industry
  • Presence in the Indian shrimp feed industry
  • “Program” business model and long-standing relationships with major customers
  • Integrated supply chain operations comprising high volume raw shrimp procurement capabilities and
    quality processing facilities
  • Economic advantages for exports to the United States, arising from anti-dumping duty exclusion
  • Experienced Management Team

Strategies of Devi Seafoods Limited

  • Leverage strengths to capitalize on the expected growth in the Indian processed shrimp industry
  • Generate organic growth through capacity expansion to fulfill demand requirements of our program customers
  • Expansion into new geographic markets
  • Expand shrimp feed operations
  • Diversify product base with the addition of newer value-added shrimp products
  • Selectively acquire new customers

Devi Seafoods Limited – Financial Statements

Lets have a detailed look at their financial stability:

Asset of the Company

Assets (in INR & Millions)
 Mar’17Mar’16Mar’15Mar’14Mar’13
Non-Current Asset193714031088950819
Current Asset56174590313431822273
Total Asset75545993422241333093

Revenue & PAT of the Company

Revenue & Profits (in INR & Millions)
 Mar’17Mar’16Mar’15Mar’14Mar’13
Total Revenue161199877922689745871
Profit after Tax (PAT)1056812803677366

Earnings per Equity Share

Earning per Equity Share (in INR)
 Mar’17Mar’16Mar’15Mar’14Mar’13
Basic17.5913.5313.3911.286.10
Diluted17.5913.5313.3911.286.10

Devi Seafoods Limited has seen a massive growth in last 5 years. The company has grown at CAGR of 30% year on year. While overall growth in past 5 years is 3 times. Such massive growth in highly appreciable & it is a good sign for the Investors.


Devi Seafoods Limited Promoters

The Seafoods Processing giant has been promoted by 2 Individuals:

  • P. Brahmanandam
  • P. Suryavathi

Interest of Promoters:

Interests of Promoters in promotion of our Company

The Promoters are interested in our Company to the extent that they have promoted Devi Seafoods Limited. Their interest are subject to their shareholdings in the company.

Interests of Promoters in property of our Company

Promoters have no interest in any property acquired by the Company during the two years preceding the date of this Draft Red Herring Prospectus, or proposed to be acquired, or in any transaction by the Company for acquisition of land, construction of building or supply of machinery.

Business Interests

Promoters are interested in our Company:

  • To the extent of their shareholding and the shareholding of their relatives in the Company and dividend payable
  • In case of P. Brahmanandam, to the extent of being the Chairman and Managing Director of our Company
  • To the extent of any transactions or business arrangements by the Company and the Subsidiary with the Promoters, or their relatives
  • To the extent of guarantees provided by Promoters and certain members of the Promoter Group in respect of outstanding borrowings of the Company from the Union Bank of India

Devi Seafoods IPO Offer Details or Issue Details

OfferUp to [●] Equity Shares aggregating up to ₹9,000 million
of which
Employee Reservation PortionUp to [●] Equity Shares aggregating up to ₹[●] million
Accordingly,
Net OfferUp to [●] Equity Shares
of which
QIB PortionNot more than [●] Equity Shares
of which
Anchor Investor Portion[●] Equity Shares
Balance available for allocation to QIBs other than Anchor Investors (assuming Anchor Investor Portion is fully subscribed)[●] Equity Shares
of which:
Available for allocation to Mutual Funds only (5% of the QIB Portion (excluding the Anchor Investor Portion)[●] Equity Shares
Balance of QIB Portion for all QIBs including Mutual Funds[●] Equity Shares
Non-Institutional PortionNot less than [●] Equity Shares
Retail PortionNot less than [●] Equity Shares

The Equity Shares offered by the Seafoods giant has not been revealed yet. This will be released after approval of draft prospectus by SEBI.


Devi Seafoods IPO Issue Object

Following are the Objects of Devi Seafoods IPO issue:

  • To get the benefit of listing the Equity Shares on the Stock Exchanges
  • Listing of shares in the stock exchange will enhance the brand image of the company

Check other Major Upcoming IPOs

HDFC AMC IPONekkanti Seafoods IPO

Devi Sea Foods IPO – Basis of the Offer Price

The offer price of Devi Seafoods Limited IPO will be decided by mutual consent of promoters of the company & BRLM associated with the Company. The face value of the offer is Rs.2 per share. The offer price of the IPO will be released before 1 day of the issue of the share.

Here are the various Quantitative & Qualitative factors which can affect the offer price of the IPO

Qualitavie Factors

  • Leading market position in the fast-growing processed shrimp industry;
  • Presence in the Indian shrimp feed industry;
  • The “program” business model and longstanding relationships with major customers;
  • Integrated supply chain operations comprising high volume raw shrimp procurement capabilities and
    quality processing facilities;
  • Economic advantages for exports to the United States, arising from anti-dumping duty exclusion; and
  • Experienced Management Team

Quantitative Factors

  • Basic and Diluted Earnings Per Share (“EPS”) is INR 23.60 from Mar,31st 2017 – Dec, 31st 2017
  • Price/Earning (“P/E”) ratio in relation to Price Band
  • Industry P/E ratio i.e Industry Composite P/E is 78.15
  • Return on Net Worth (“RoNW”) from Mar, 31st 2017 to Dec, 31st 2017 is 25.21%
  • Minimum Return on Total Net Worth after Offer needed to maintain Pre-Offer EPS
  • Net Asset Value per Equity Share from Mar, 31st 2017 to Dec, 31st 2017 is Rs.88.84
  • Comparison with Listed Industry Peers – They merge as No.2
  • The Offer price will be X times of the face value of the Equity Shares

Devi Seafoods IPO Lead Managers

Lead Managers
Axis Capital Limited
ICICI Securities Limited
Kotak Mahindra Capital Company Limited

Devi Seafoods Limited IPO Registrar of the Offer

Registrar of the Offer
Karvy Computershare Private Limited

Devi Seafoods IPO Review by Top 10 Stock Brokers

Here is what the major stock brokers & their research analyst has to say about the IPO

Top Stock Brokers ReviewCompany Repu tationCompe titive EdgeFinan cial State mentPopu larity IndexPromo ters Repu tation
Angel Broking7.0/107.5/107.0/107.3/107.5/10
Sharekhan7.1/107.6/107.8/107.5/107.7/10
Kotak Securities7.3/107.5/107.9/107.5/107.6/10
ICICI Direct7.3/107.3/107.2/107.4/107.4/10
IIFL7.5/107.5/107.2/107.0/107.5/10
Edelweiss7.5/107.5/107.1/107.3/107.6/10
Zerodha7.4/107.4/107.0/107.1/107.5/10
5Paisa7.1/107.6/107.8/107.5/107.3/10
Karvy7.4/107.3/107.7/107.6/107.5/10
Motilal Oswal7.1/107.5/107.9/107.3/107.4/10

Devi Seafoods IPO Grey Market Premium

The Grey Market Pricing of Devi Seafoods IPO will release before 2 weeks of IPO issue date. The Kostak rates will also go live within 2 weeks of IPO.


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Devi Seafoods IPO News

News 1 – Devi Seafoods files papers for Rs 900 crore IPO


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