Bookbuilding IPO | ₹96 Cr | Listed at NSE SME | Fri, May 10, 2024 - Wed, May 15, 2024
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 per share. The lot size for an application is 1,000. The minimum amount of investment required by an retail is ₹1,47,000 (1000 shares) (based on upper price). The minimum lot size for investment in 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 Open
Fri, May 10, 2024
IPO Close
Wed, May 15, 2024
Issue Price
₹147 per share
Market Cap (Pre-IPO)
₹360.88 Cr
| IPO Date | 10 to 15 May, 2024 |
| Listed on | Tue, May 21, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹140 to ₹147 |
| Issue Price | ₹147 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 65,50,000 shares (agg. up to ₹96 Cr) |
| Reserved for Market Maker | 4,10,000 shares Giriraj Stock Broking Pvt.Ltd. (agg. up to ₹6 Cr) Commodity Mandi Pvt.Ltd. |
| Fresh Issue (Ex Market Maker) | 61,40,000 shares (agg. up to ₹90 Cr) |
| Net Offered to Public | 61,40,000 shares (agg. up to ₹90 Cr) |
| Share Holding Pre Issue | 1,80,00,000 shares |
| Share Holding Post Issue | 2,45,50,000 shares |
| NSE Symbol | ABSMARINE |
| ISIN | INE0QRV01016 |
ABS Marine IPO comprises a total issue size of 65,50,000 shares. The net offer to the public is 61,40,000 shares, after excluding 4,10,000 shares allotted on a firm basis. Of the Net offer 30,69,000 (49.98%) are allocated to QIB, 9,22,000 (15.02%) allocated to NII 21,49,000 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 30,69,000 | 49.98% | 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 | 15.02% | 14.08% |
| Retail Shares Offered | 21,49,000 | 35.00% | 32.81% |
| Firm Reservations | |||
| Market Maker Shares Offered | 4,10,000 | 6.26% | |
| Total Shares Offered | 65,50,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,000 shares and in multiples thereof.
| 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 |
ABS Marine IPO raises ₹27.06 crore from anchor investors. ABS Marine IPO Anchor bid date is May 9, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Thu, May 9, 2024 |
| Shares Offered | 18,41,000 |
| Anchor Portion (₹ Cr.) | 27.06 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Jun 15, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Aug 14, 2024 |
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.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 184.81 | 175.53 | 166.63 |
| Total Income | 138.02 | 113.81 | 82.84 |
| Profit After Tax | 23.55 | 9.53 | 8.09 |
| NET Worth | 117.17 | 93.52 | 83.70 |
| Reserves and Surplus | 99.17 | 93.51 | 83.69 |
| Total Borrowing | 45.68 | 48.66 | 61.15 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Acquistion of offshore vessel | 55.00 |
| 2 | Funding the working capital requirements of the Company | 25.00 |
| 3 | General corporate purposes | 11.29 |
| KPI | Mar 31, 2024 |
|---|---|
| ROCE | 18.67% |
| Debt/Equity | 0.39 |
| RoNW | 20.10% |
| PAT Margin | 18.41% |
| Price to Book Value | 2.26 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 13.09 | 9.59 |
| P/E (x) | 11.23 | 15.32 |
| Promoter Holding | 86.50% | 63.42% |
| Market Cap | ₹360.88 Cr. |
The ABS Marine Services IPO is subscribed 144.44 times on May 15, 2024 6:19:57 PM (Day 4). The public issue subscribed 110.24 times in the retail category, 109.3 times in the QIB category, and 270.94 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 109.3 | 12,28,000 | 13,42,17,000 |
| NII* | 270.94 | 9,22,000 | 24,98,03,000 |
| Retail | 110.24 | 21,49,000 | 23,69,10,000 |
| Total | 144.44 | 42,99,000 | 62,09,30,000 |
Total Application : 2,36,910
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue Management fees including Merchant Banking fees, Underwriting fees and payment to other intermediaries such as Legal Advisors, Registrars and other out of pocket expenses | 3.61 |
| 2 | Advertising and Marketing Expenses | 1.00 |
| 3 | Fees payable to the stock exchange(s) | 0.15 |
| 4 | Printing & Stationery, Distribution, Postage, etc. | 0.09 |
| 5 | Brokerage and selling commission (1) (2) (3) | 0.15 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹147.00 |
| Open | ₹294.00 |
| Low | ₹279.30 |
| High | ₹304.00 |
| Last Trade | ₹279.30 |
Purva Sharegistry (India) Pvt.Ltd.
Lead Manager Reports
ABS Marine IPO is a SME IPO of 65,50,000 equity shares of the face value of ₹10 aggregating up to ₹96 Crores. The issue is priced at ₹147 per share. The minimum order quantity is 1000.
The IPO opens on Fri, May 10, 2024, and closes on Wed, 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 Fri, May 10, 2024 and closes on Wed, 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 Fri, May 17, 2024. Check the ABS Marine IPO allotment status.
The ABS Marine IPO listing date is on Tue, May 21, 2024.
