Devi SeaFoods Limited IPO

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Devi Seafoods Limited is a leading producer of processed shrimp and shrimp feed headquartered in Visakhapatnam, Andhra Pradesh. For the fiscal year 2017, we were the second largest exporter of shrimps from India in value terms and we have also received awards from MPEDA (an authority under the Ministry of Commerce and Industry) 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 (Source: CRISIL Research). We have a 25-year history in shrimp processing and sell processed shrimp with varying degrees of value addition to our customers, located primarily in the United States. Our major customers in the United States include foodservice distributors, restaurant chains, retailers and distributors, and warehouse chains. We sell processed shrimp products in the United States market through our wholly owned subsidiary in the United States, Devi Sea Foods Inc. (the “Subsidiary”), which was incorporated in 2005. In March 2016, we started the complementary business of manufacturing quality shrimp feed.
Devi Seafoods Limited is an integrated player across the processed shrimp supply chain from shrimp seed production, raw shrimp procurement, processing, and overseas distribution to our customers. We procure raw shrimp primarily from aquaculture farmers across the east and west coast of India, and also produce small quantities of raw shrimp at our captive shrimp farms. We process raw shrimp into exportable “ready to eat” or “ready to cook” frozen forms
at our processing facilities. We have two shrimp processing facilities located in Andhra Pradesh. As of December
31, 2017, the combined installed capacity of our shrimp processing facilities was 19,250 MT.
1. Devi Seafoods Limited is one of the largest seafood exporters from India, has been catering to its customer’s shrimp appetite for over two decades now.
2. Based in the state of Andhra Pradesh and located around shrimp farming center’s, has built competencies and harnessed them over the years, exclusively catering to farm-raised Black Tiger and White shrimps. It has been serving up shrimp in much raw and cooked value added verities.
3. Devi is as fully integrated seafood supplier with its own processing plant, aquaculture farms and shrimp hatchery, having control over its entire supply chain
4. Devi has always been in the forefront to embrace the latest technologies in processing shrimp to the global standards.
5. Company’s impeccable record in honoring commitments and supporting customers in the long-term

Objects of the Devi SeaFoods Limited IPO:

Objective of

Devi SeaFoods Limited IPO

are: The Offer for Sale Each of the Selling Shareholders will be entitled to the proceeds of the offer for sale of their respective portion of the Equity Shares after deducting its portion of the Offer expenses and relevant taxes thereon. Our Company will not receive any proceeds from the Offer. The objects of the Offer for the Company are to achieve the benefit of listing the Equity Shares on the Stock Exchanges and for the sale of Equity Shares by the Selling Shareholders. Further, the Company expects that listing of Equity Shares will enhance its stability and brand image and provide liquidity to its existing Shareholders.

Devi SeaFoods Limited IPO Details:

Face Value: ₹ 2 Per Equity Share
Listing At: NSE,BSE

Promoters And Management:

Promoters of Devi SeaFoods Limited Company are: P. Brahmanandam is the Chairman and Managing Director of our Company and a director of our Subsidiary. He holds a bachelor’s degree in commerce from Andhra University and a master’s degree in commerce from Andhra University. He has over 25 years of experience in the shrimp industry. He was appointed as a member of the Marine Products Export Development Authority for a period of three years from February 10, 1999 to February 10, 2002. He has also served as an honorary director of the Kanaka Mahalakshmi Co-Operative Bank Limited, Visakhapatnam from May 2000 to January 2005. He has been a Director on our Board since April 1, 1992. P. Rama Devi is a Whole-time Director of our Company and oversees our procurement, production, planning and control functions of our Company. She holds a bachelor’s degree in technology from Andhra University and a master’s degree in business administration from Andhra University. She has over 12 years of experience in the shrimp industry. She has been a Director of our Board since June 1, 2005.

Financials of Devi SeaFoods Limited IPO:

Particulars For the year/period ended (in Rs. Lacs)
31-Dec-2017 31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14
Total Assets 2,144.58 1,937.07 1,402.88 1,088.35 950.17
Total Revenue 14,651.76 16,251.58 10,022.12 9,448.14 8,974.44
Profit After Tax 1,415.88 1,055.55 812.02 803.44 677.03

Recommendation on Devi SeaFoods Limited IPO:

Review and Recommendation of

Devi SeaFoods Limited IPO

from our side is: Under Analysis. We'll update it soon here.

Registrar of Devi SeaFoods Limited IPO:

  1. Karvy Computershare Private Limited

Company Address:

Devi Sea Foods 50-1-51/1, A.S.R.Nagar Seethammadhara, Visakhapatnam – 530 013, Andhra Pradesh, India Phone No. +91-891-2525337,2567082 Fax No. +91-891-2563828 Email: info@deviseafoods.com

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