Captain Fresh, the Bengaluru-based B2B seafood exporter, has formally set the stage for its stock market debut with a plan to raise ₹1,700 crore through a fresh issue of shares. The decision, cleared by its board last week, follows the company’s recent shift from a private to a public entity and its rebranding to Infifresh Foods Limited, according to regulatory filings.
Founded in 2020 by Utham Gowda, Captain Fresh has rapidly grown into one of India’s leading tech-led supply chain platforms for packaged seafood. Its operations stretch across India and international markets such as the Middle East, Europe, and the United States. The company positions itself as a bulk supplier to retailers and distributors, connecting fishing communities and aquaculture hubs directly with demand centers.
Financially, the momentum has been strong. In FY24, the company posted an operating revenue of ₹1,395 crore, marking a 71 percent surge from ₹817 crore in FY23. Net losses also narrowed to ₹229 crore compared with ₹294 crore a year earlier, highlighting improving operational efficiency.
The IPO plans come on the heels of a ₹250-crore pre-IPO funding round in January, which saw participation from marquee investors such as Prosus Ventures, Accel, and Tiger Global. Prominent backers also include Swiggy cofounder Sriharsha Majety’s family office, Sid Khanna of India Equity Partners, and the late Sunjay Kapur of Sona Comstar.
With this move, Captain Fresh joins the growing list of B2B tech-first firms like Zetwerk and Infra.Market preparing to tap public markets. If successful, the ₹1,700-crore fundraising will give Captain Fresh capital to strengthen its sourcing base, expand global reach, and double down on technology that ensures fresher seafood for buyers worldwide.
