Karnataka Fisheries Development Corporation was established in 1970 under the Companies Act 1956 with Authorized share capital of Rs.300 lakh and paid up share capital is Rs. 7.12 lakh for the development of fisheries sector and the welfare of fishermen. This Corporation is the oldest Corporation in the Country and is pioneer in establishing Cold Chain, marketing of marine fish in the inland cities and towns of Karnataka. It has constructed mechanized boats and conducted deep sea fishing operations.
Present activities of Corporation are establishing and running of ice and cold storages, Marketing of Purse-seine boat catches, running of Hygienic Fish Restaurants and Fish Retail Outlets, Providing Infrastructure to Entrepreneurs for Fish Processing, Fish Meal and Oil and related activities. The Authorized share capital of the Corporation at present is Rs.20 crore and paid-up share capital is Rs.16.16 crore.