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ABS Marine IPO is a book build issue of ₹96.29 crores. The issue is entirely a fresh issue of 0.66 crore shares of ₹96.29 crore.
ABS Marine IPO bidding started from May 10, 2024 and ended on May 15, 2024. The allotment for ABS Marine IPO was finalized on May 16, 2024. The shares got listed on NSE SME on May 21, 2024.
ABS Marine IPO price band is set at ₹147.00 per share . The lot size for an application is 1,000. The minimum amount of investment required by an retail is ₹1,40,000 (1000 shares). The minimum lot size investment for HNI is 2 lots (2,000 shares), amounting to ₹2,94,000.
GYR Capital Advisors Pvt.Ltd. is the book running lead manager and Purva Sharegistry (India) Pvt.Ltd. is the registrar of the issue. The market maker of the company areGiriraj Stock Broking Pvt.Ltd., Commodity Mandi Pvt.Ltd..
Refer to ABS Marine IPO RHP for detailed Information.
| IPO Date | May 10, 2024 to May 15, 2024 |
| Listing Date | May 21, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹140 to ₹147 per share |
| Issue Price Final | ₹147 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 65,50,000 shares (aggregating up to ₹96.29 Cr) |
| Reserved for Market Maker | 4,10,000 shares Giriraj Stock Broking Pvt.Ltd. (aggregating up to ₹6.03 Cr) Commodity Mandi Pvt.Ltd. |
| Net Offered to Public | 61,40,000 shares (aggregating up to ₹90.26 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,80,00,000 shares |
| Share Holding Post Issue | 2,45,50,000 shares |
ABS Marine Services IPO offers total 65,50,000 shares. Out of which 30,69,000 (46.85%) allocated to QIB, 12,28,000 (18.75%) allocated to QIB, 9,22,000 (14.08%) allocated to NII, 21,49,000 (32.81%) allocated to RII and 18,41,000 (28.11%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 4,10,000 (6.26%) |
| QIB Shares Offered | 30,69,000 (46.85%) |
| − Anchor Investor Shares Offered | 18,41,000 (28.11%) |
| − QIB (Ex. Anchor) Shares Offered | 12,28,000 (18.75%) |
| NII (HNI) Shares Offered | 9,22,000 (14.08%) |
| Retail Shares Offered | 21,49,000 (32.81%) |
| Total Shares Offered | 65,50,000 (100.00%) |
ABS Marine IPO raises ₹27.06 crore from anchor investors. ABS Marine IPO Anchor bid date is May 9, 2024. ABS Marine IPO Anchor Investors list
| Bid Date | May 9, 2024 |
| Shares Offered | 18,41,000 |
| Anchor Portion Size (In Cr.) | 27.06 |
| Anchor lock-in period end date for 50% shares (30 Days) | June 15, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | August 14, 2024 |
ABS Marine IPO opens on May 10, 2024, and closes on May 15, 2024.
| IPO Open Date | Fri, May 10, 2024 |
| IPO Close Date | Wed, May 15, 2024 |
| Tentative Allotment | Thu, May 16, 2024 |
| Initiation of Refunds | Fri, May 17, 2024 |
| Credit of Shares to Demat | Fri, May 17, 2024 |
| Tentative Listing Date | Tue, May 21, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, May 15, 2024 |
Investors can bid for a minimum of 1,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,000 | ₹1,47,000 |
| Retail (Max) | 1 | 1,000 | ₹1,47,000 |
| HNI (Min) | 2 | 2,000 | ₹2,94,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Founded in October 1992, ABS Marine Services Limited manages offshore vessels and owns five vessels as of December 31, 2023. These include two modern offshore vessels for the oil and gas sector and three harbour vessels for the Indian port sector.
The company is divided into four divisions: Ship Ownership, Ship Management, Marine Services, and Port Services.
The company currently manages a total of 12 vessels for the government, public companies, private companies and port authorities (as of December 31, 2023). It also provides crew management services for 24 other vessels, including oil tankers, gas carriers, bulk carriers, passenger ships and high-speed vessels.
The company owns a fleet of vessels that are fully chartered, managed and manned. These vessels are equipped with state-of-the-art DP-2 multipurpose offshore supply vessels, anchor handling supply vessels, multidisciplinary marine research vessels, coastal research vessels, oceanographic fisheries research vessels, bulk carriers, gas tankers, oil tankers, passenger vessels, high speed craft and harbour vessels.
The company has offices in Mumbai and Chennai, India's two largest cities, as well as a branch office in Cochin and a satellite office in Kakinada. In addition, as of December 31, 2023, the company has a network of more than 40 in-house professionals to support it in its work.
ABS Marine Services Limited's revenue increased by 21.27% and profit after tax (PAT) rose by 147.22% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 18,480.99 | 17,552.50 | 16,663.28 |
| Total Income | 13,801.89 | 11,380.78 | 8,283.98 |
| Profit After Tax | 2,355.41 | 952.74 | 809.43 |
| Net Worth | 11,717.39 | 9,352.42 | 8,370.01 |
| Reserves and Surplus | 9,917.39 | 9,351.42 | 8,369.01 |
| Total Borrowing | 4,567.96 | 4,866.29 | 6,114.77 |
| Amount in ₹ Lakhs | |||
The market capitalization of ABS Marine IPO is ₹360.88 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| ROCE | 18.67% |
| Debt/Equity | 0.39 |
| RoNW | 20.10% |
| Price to Book Value | 2.26 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 13.09 | 9.59 |
| P/E (x) | 11.23 | 15.32 |
The Company proposes to utilise the Net Proceeds towards funding the following objects
[Dilip Davda] The company is providing marine related all kind of services under one roof. It has about six high margin ongoing contracts and many more in the pipeline. Based on FY24 super earnings, the issue appears fully priced. It has many renounced clients in its list and enjoys long term relationships. Considering the recent performance that is indicating prospects ahead, Investors may consider investment for the medium to long term rewards. Read detail review...
| Listing Date | May 21, 2024 |
| BSE Script Code | |
| NSE Symbol | ABSMARINE |
| ISIN | INE0QRV01016 |
| Final Issue Price | ₹147 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹147.00 |
| Open | ₹294.00 |
| Low | ₹279.30 |
| High | ₹304.00 |
| Last Trade | ₹279.30 |
ABS Marine Services Ltd.
Flat No. 3, Anugraha Foundation
No. 15, Valliammal Road
Vepery,
Chennai, Tamil Nadu, 600007
Phone: 044-42914135
Email: cs@absmarine.com
Website: http://www.absmarine.com/
Purva Sharegistry (India) Pvt.Ltd.
Phone: +91-022-23018261/ 23016761
Email: newissue@purvashare.com
Website: https://www.purvashare.com/investor-service/ipo-query
ABS Marine IPO is a SME IPO of 65,50,000 equity shares of the face value of ₹10 aggregating up to ₹96.29 Crores. The issue is priced at ₹147 per share. The minimum order quantity is 1000.
The IPO opens on May 10, 2024, and closes on May 15, 2024.
Purva Sharegistry (India) Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in ABS Marine IPO using UPI as a payment gateway. Zerodha customers can apply in ABS Marine IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in ABS Marine IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The ABS Marine IPO opens on May 10, 2024 and closes on May 15, 2024.
ABS Marine IPO lot size is 1000, and the minimum amount required for application is ₹1,47,000.
You can apply in ABS Marine IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for ABS Marine IPO will be done on Thursday, May 16, 2024, and the allotted shares will be credited to your demat account by Friday, May 17, 2024. Check the ABS Marine IPO allotment status.
The ABS Marine IPO listing date is on Tuesday, May 21, 2024.
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