Devi Seafoods on March 5, 2018 has filed draft papers with Securities and Exchange Board of India (SEBI), to raise Rs.900 crore via an initial public offering.

As per the draft papers filed with Sebi, the IPO will consist of sale of shares by the promoters of company P Brahmanandam, P Suryavathi, P Rama Devi and N Naveena. The company’s public issue will be managed by Axis Capital, ICICI Securities and Kotak Mahindra Capital Company.

Further, as per the company, this listing of equity shares will increase its stability and brand image and also provide liquidity to its existing shareholders.

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