In keeping with varied media studies, Captain Contemporary, a B2B seafood agency, has pre-filed its DRHP for a $400 million (about INR 3,400 crore) IPO via the key route. As per studies, the IPO will embody a proposal on the market of $150 million to $200 million (about INR 1,300 crore to INR 1,700 crore) and a brand new subject of $200 million.

CNBC TV18 was the primary to report the information. Captain Contemporary made cash in FY25 earlier than submitting the non-public IPO paperwork. In keeping with the sources, the agency made INR 40 Cr in internet revenue all year long on INR 3,200 Cr in income.

FY25 Monetary Efficiency

In FY25, EBITDA was INR 120 Cr. In FY24, it reported INR 1,395 Cr in income and INR 229 Cr in loss. Captain Contemporary is a tech-led fish provide chain platform that was based in 2020 by Utham Gowda. Along with international markets just like the US, the Center East, and Europe, it gives its merchandise in India.

Pre-IPO Funding and Traders

Gowda acknowledged earlier this 12 months that the enterprise deliberate to go public by the top of 2025. In June of this 12 months, Captain Contemporary turned a public firm as a part of its preparations for a public providing.

Earlier this 12 months, Captain Contemporary raised INR 250 Cr in a pre-IPO funding spherical from traders together with India Fairness Companions chairman Sid Khanna, Swiggy founder Sriharsha Majety, and Prosus Ventures, Accel, and Tiger World Administration.

World Enlargement and Dangers

Gowda informed a media outlet in January that the US accounts for about 60% of Captain Contemporary’s demand, with Europe coming in second.  Simply 2-3% of its merchandise are equipped to India, whereas fewer than 5% are equipped to the Center East. On condition that Washington has positioned a 25% tariff on Indian exports and plans to slap an additional 25% obligation later this month, this robust reliance on the US could present difficulties within the close to future. Within the US, the startup supplies companies to between 500 and 1,000 distributors.

IPO Utilization Plans

The IPO would assist inorganic growth via acquisitions within the US and Europe, the place Captain Contemporary has already acquired seafood manufacturers, Gowda informed a media outlet.

Though it’s primarily B2B in the meanwhile, he additionally alluded to potential B2C development in prosperous Western markets if provide chain efficiencies are solidified.

In distinction, the agency recorded working income of INR 1,395 Cr in FY24, which was 71% increased than the INR 817 Cr the 12 months earlier than. Within the meantime, its internet loss decreased from INR 294 Cr in FY23 to INR 229 Cr.

Fast Photographs

•Captain Contemporary, B2B seafood startup, has confidentially pre-filed DRHP for a $400 million. •Primarily B2B, however exploring B2C alternatives in Western markets. •US contributes round 60% of demand, adopted by Europe. •Providers 500–1,000 US distributors.

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