SE Fruits and Vegetable Secures SECP Approval for 30 Million-Share IPO

September 11, 2026 (MLN): SE Fruits and Vegetable Limited has received 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, advancing the export-oriented, Shariah-compliant company’s planned listing on the Pakistan Stock Exchange (PSX).

The SECP approval, dated September 9, follows the PSX’s approval on September 7. Book building is scheduled for September 21 and 22, with subscriptions from the general public set for September 28 and 29.

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

SE Fruits and Vegetable Limited intends to offer 30 million ordinary shares, equivalent to 32.01% of its post-IPO paid-up capital, at a floor price of Rs40 per share.

Through the book-building process, the strike price may increase by as much as 60%, reaching Rs64 per share and allowing the company to raise between Rs1.20 billion and Rs1.92 billion.

Under the offering structure, 22.5 million shares, or 75% of the issue, will be allocated through book building. The remaining 7.5 million shares will be offered to the general public.

The IPO is expected to significantly improve the company’s working-capital position, which has been a key constraint on its growth. The additional funding will support larger seasonal procurement, increased processing capacity and stronger conversion of existing international demand into export revenue.

In FY2026, SE Fruits and Vegetable Limited generated approximately $4 million in export revenue from Pakistan’s roughly $470 million fruit and vegetable export market, accounting for less than 1% of the sector. The company aims to increase its export revenue to approximately $18 million in FY2027, potentially lifting its market share to just under 4%.

Based in Sargodha and formerly known as Shaheen Enterprises, the company has nearly three decades of operating experience. It exports kinnow, mangoes, potatoes and other agricultural products to more than 22 countries.

SE Fruits and Vegetable Limited has also maintained export operations during periods of regional trade and logistics disruption, while achieving higher selling prices in certain Middle Eastern markets.

These results reflect the strength of its customer relationships, diversified international reach and ability to adapt its commercial operations to challenging market conditions.

With the principal regulatory approvals now in place, the IPO is expected to address a major working-capital constraint and support the next phase of growth for SE Fruits and Vegetable Limited’s export business.

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