India, Aug. 18 -- B2B seafood startup Captain Fresh has pre-filed its DRHP via the confidential route for a $400 Mn (about INR 3,400 Cr) IPO, sources told Inc42.

The IPO will comprise a fresh issue of $200 Mn (around INR 1,700 Cr) and an offer for sale of $150 Mn to $200 Mn (about INR 1,300 Cr to INR 1,700 Cr), the sources added.

The development was first reported by CNBC TV18.

Captain Fresh turned profitable in FY25 ahead of filing the confidential IPO papers. The sources said that the startup clocked a net profit of INR 40 Cr on a revenue of INR 3,200 Cr during the year. EBITDA stood at INR 120 Cr in FY25.

Founded in 2020 by Utham Gowda, Captain Fresh provides a tech-led supply chain platform for seafood. It sells the products in In...