Captain Fresh files confidential IPO papers with Sebi to raise ₹1,700 crore

Captain Fresh, one of the growing seafood companies, has confidentially submitted its DRHP with SEBI, as per the RoC filings.

According to filings shared by The Kredible, the company is planning to raise ₹1,700 crore (about $200 million) through its public listing.

In October last year, Moneycontrol reported that the company chose Axis Capital and BofA as IPO bankers and was planning to raise $350–$400 million at a valuation of $1.3–$1.5 billion. This comes soon after the company became a public limited entity in July.

Incorporated in 2019, founded by Utham Gowda, it is one of the leading companies engaged in the fish and seafood market, helping businesses buy fresh produce and supporting them with processing and distribution. The company has raised over $160 million from investors like Accel, Tiger Global, Prosus, SBI Investment, and others.

Along with its listing plans, the company has added three independent directors to its board: Durgesh Kumar Singh, Anil Berara, and Harita Gupta.

According to Tracxn data, in order to strengthen its presence in the fish and meat market, the company decided to secure three international seafood firms which are Indonesia’s Fishlog, Poland’s Koral, and US-based CenSea.

Previously this year, Captain Fresh raised ₹250 crore (about $29 million) from existing investors like Prosus, Accel, and Tiger Global in its pre-IPO round.

In FY25, Captain Fresh has not shared its revenue yet, but its gross revenue grew 71% to ₹1,395 crore. Its net loss also fell 22% to Rs 229 crore from ₹294 crore in the same period.

Vijay Prajapati

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