SE Fruits and Vegetable Limited has secured approval from the Securities and Exchange Commission of Pakistan (SECP) to issue, circulate and publish its prospectus for an Initial Public Offering (IPO) of 30 million ordinary shares.

The approval marks another major step towards the company’s planned listing on the Pakistan Stock Exchange (PSX).

The SECP approved the prospectus on September 9, following PSX approval on September 7. The company has scheduled the book-building process for September 21 and 22.

The general public will be able to subscribe to the remaining shares on September 28 and 29.

Topline Securities Limited and Growth Securities Limited are serving as joint lead managers for the issue.

SE Fruits and Vegetable Sets IPO Price Range

SE Fruits and Vegetable plans to offer 30 million ordinary shares. The shares represent 32.01% of the company’s post-IPO paid-up capital.

The floor price stands at Rs40 per share. Through book building, the strike price could rise by up to 60% to Rs64 per share.

At these prices, the IPO could raise between Rs1.20 billion and Rs1.92 billion.

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The company will offer 22.5 million shares, or 75% of the issue, through book building. It will reserve the remaining 7.5 million shares for the general public.

IPO to Support Working Capital

The company expects the IPO proceeds to strengthen its working-capital position. It identifies working capital as one of the main constraints on its growth.

The additional funds will support larger seasonal procurement. They will also help increase processing capacity and improve the company’s ability to meet international demand.

SE Fruits and Vegetable aims to significantly expand its export revenue after the IPO.

The company generated around US$4 million in export revenue during FY2026. This represented less than 1% of Pakistan’s estimated US$470 million fruit and vegetable export market.

For FY2027, the company aims to increase export revenue to around US$18 million. If achieved, its market share could approach 4%.

Sargodha-Based Exporter Targets Global Growth

Based in Sargodha, SE Fruits and Vegetable previously operated as Shaheen Enterprises. The company has nearly three decades of experience in the agricultural export sector.

It exports kinnow, mangoes, potatoes and other agricultural products to more than 22 countries.

The company has also maintained export operations during periods of regional trade and logistics disruption. It reported higher selling prices in some Middle Eastern markets during these periods.

The company says its customer relationships, diversified international presence and ability to adapt have helped it navigate challenging market conditions.

IPO Marks Next Growth Phase

With key regulatory approvals now in place, the IPO represents a major milestone for SE Fruits and Vegetable.

The company expects the additional capital to ease its working-capital constraints and support expansion across procurement, processing and exports.

The planned listing could therefore provide the company with greater capacity to convert existing international demand into higher export revenue.

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