World packaged seafood startup Captain Contemporary has withdrawn its draft purple herring prospectus (DRHP) filed with the Securities and Change Board of India (SEBI), citing the necessity to full a fabric abroad acquisition earlier than continuing with its IPO.

The Bengaluru-based firm had been planning to boost Rs 1,700 crore by way of a contemporary subject as a part of its IPO. The DRHP had been filed through the confidential pre-filing route by its mum or dad, Infifresh Meals Ltd, in August this yr for a proposed $400 million itemizing.

Forward of the general public subject, Captain Contemporary had additionally raised Rs 250 crore in pre-IPO funding led by present backers Accel, Prosus Ventures and Tiger World, with participation from the household workplace of Swiggy cofounder Sriharsha Majety, India Fairness Companions chairman Sid Khanna and the late Sunjay Kapur of Sona Comstar, amongst others.

Based on media experiences, co-founder Utham Gowda stated the corporate has briefly paused its itemizing plans attributable to delays linked to regulatory clearances for a European acquisition. Captain Contemporary stated it has now secured all required approvals and is within the strategy of finishing ultimate transaction actions.

“We’ve got secured all vital regulatory approvals for the acquisition and are executing ultimate transaction actions that may considerably improve our international market place. In view of this, we’re sustaining the requisite capital construction flexibility to facilitate these strategic fairness investments. This withdrawal is a strategic measure within the route,” the corporate stated in a press release.

The corporate added that its broader IPO roadmap stays unchanged and that it intends to refile its papers as soon as the transaction is closed, with a contemporary submitting anticipated in early 2026.

Captain Contemporary has been increasing aggressively by way of acquisitions to strengthen its presence in abroad markets, significantly Europe and the US.

Earlier this month, it acquired Spanish yellowfin tuna producer Frime. This adopted the acquisition of France-based cooked shrimp producer and distributor Senecrus in late 2023 and Poland-based salmon merchandise firm Koral in 2024.

The corporate has additionally acquired US-based seafood importer CenSea. Based on the corporate, practically 60% of its demand comes from the US, adopted by Europe. The Center East contributes lower than 5 per cent, whereas India accounts for about 2-3% of gross sales, making offshore acquisitions central to its progress technique.

Based in 2020 by Gowda, Captain Contemporary operates a tech-led B2B seafood provide chain platform connecting fishermen with retailers and companies. Its platform focuses on high quality management, traceability and demand forecasting, and gives digital instruments equivalent to e-auctions and predictive analytics. The corporate presently operates a portfolio of round 10 subsidiaries and joint ventures throughout the US, Europe and Asia.