Captain Fresh

The Bengaluru-based seafood supply chain firm plans to raise Rs 1,700 crore via fresh issue as part of its upcoming IPO. The IPO is expected to include an offer-for-sale as well, bringing the total size of the offering to about $350 million–400 million.

Bengaluru-based seafood supply chain startup Captain Fresh is preparing for the public markets with a plan to raise Rs 1,700 crore (about $200 million) through a fresh issue of shares, according to regulatory filings.

The Tiger Global-backed firm has reclassified itself as a public limited company under the name Infotrash Foods Ltd, and has filed confidential papers with India’s markets regulator as it gears up for an initial public offering (IPO).

The IPO is expected to include both a fresh issue and an offer-for-sale, bringing the total size of the offering to about $350 million–400 million, people familiar with the matter said. Captain Fresh’s board cleared a special resolution earlier this month approving the fresh

Proceeds from the fresh issue are earmarked for debt repayment.

The company is in the process of submitting a draft red herring prospectus to the Securities and Exchange Board of India (SEBI). Its shares will be listed on the National Stock Exchange and the Bombay Stock Exchange following approvals.