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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The seafood company solved its demand problem by aggressively buying global distributors. Now it has a financing problem that it can't solve without public money.
"We are not an exciting tech company focused on the high-growth Indian market,” says Utham Gowda, founder, chief managing director and group chief executive of Captain Fresh. “We are an extremely boring packaged seafood business selling in brands that we own, focused on low-growth mature markets like the US and Europe, betting on the age-old consolidation game.”
That’s perhaps the most honest introduction to a startup planning to list on Indian stock exchanges.
The growth story, at least on paper, looks convincing. Over 95% of the Bengaluru-based company’s revenue today comes from the US and Europe, where it supplies seafood …
The kingdom is moving to tighten the rules around public listings, algorithmic trading, trading in foreign securities and company disclosures—all in an effort to chase transparency.
The seafood marketplace’s rapid global expansion has lifted the top line, but left it with rising debt, weak cash generation, and uneven returns.
