Fixed Price IPO | ₹38 Cr | Listed at NSE SME | Fri, Feb 23, 2024 - Tue, Feb 27, 2024
Sadhav Shipping IPO is a fixed price issue of ₹38.18 crores. The issue is entirely a fresh issue of 0.40 crore shares of ₹38.18 crore.
Sadhav Shipping IPO bidding started from Feb 23, 2024 and ended on Feb 27, 2024. The allotment for Sadhav Shipping IPO was finalized on Feb 28, 2024. The shares got listed on NSE SME on Mar 1, 2024.
Sadhav Shipping IPO price is ₹95 per share. The lot size for an application is 1,200. The minimum amount of investment required by an individual investor (retail) is ₹1,14,000 (1200 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (2,400 shares), amounting to ₹2,28,000.
ISK Advisors Pvt.Ltd. is the book running lead manager and Maashitla Securities Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Sunflower Broking Pvt.Ltd..
Refer to Sadhav Shipping IPO RHP for detailed Information.
IPO Open
Fri, Feb 23, 2024
IPO Close
Tue, Feb 27, 2024
Issue Price
₹95 per share
Market Cap (Pre-IPO)
₹136.35 Cr
| IPO Date | 23 to 27 Feb, 2024 |
| Listed on | Fri, Mar 1, 2024 |
| Face Value | ₹10 per share |
| Issue Price | ₹95 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 40,18,800 shares (agg. up to ₹38 Cr) |
| Reserved for Market Maker | 2,02,800 shares Sunflower Broking Pvt.Ltd. (agg. up to ₹2 Cr) |
| Fresh Issue (Ex Market Maker) | 38,16,000 shares (agg. up to ₹36 Cr) |
| Net Offered to Public | 38,16,000 shares (agg. up to ₹36 Cr) |
| Share Holding Pre Issue | 1,03,33,818 shares |
| Share Holding Post Issue | 1,43,52,618 shares |
| NSE Symbol | SADHAV |
| ISIN | INE0K5H01010 |
Sadhav Shipping IPO comprises a total issue size of 40,18,800 shares. The net offer to the public is 38,16,000 shares, after excluding 2,02,800 shares allotted on a firm basis. Of the Net offer 19,08,000 (50.00%) allocated to NII 19,08,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 19,08,000 | 50.00% | 47.48% |
| Retail Shares Offered | 19,08,000 | 50.00% | 47.48% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,02,800 | 5.05% | |
| Total Shares Offered | 40,18,800 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,200 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | ₹1,14,000 |
| Retail (Max) | 1 | 1,200 | ₹1,14,000 |
| HNI (Min) | 2 | 2,400 | ₹2,28,000 |
Incorporated in 1996, Sadhav Shipping Limited owns and operates marine assets to service ports, and coastal logistics, and provides other port maritime-related services. The company was previously known as Homa Offshore & Shipping Company Private Limited.
The company has barges that are used in coastal and inland waterway shipping for the transportation or lightering of goods. The company operates and manages Port crafts and also offers high-speed security boats for patrol services.
Sadhav Shipping has three business divisions:
The company has 24 ships, of which 19 are owned and 5 are leased, which are deployed in various sectors of maritime trade in India.
As of March 31, 2023, the company had 421 employees.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 131.13 | 116.29 | 69.09 | 61.18 |
| Total Income | 33.86 | 78.91 | 69.78 | 61.24 |
| Profit After Tax | 4.07 | 7.75 | 3.01 | 3.31 |
| NET Worth | 45.01 | 40.94 | 35.04 | 32.06 |
| Reserves and Surplus | 42.06 | 37.99 | 32.08 | 29.10 |
| Total Borrowing | 66.82 | 55.27 | 20.83 | 17.76 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment / Prepayment, in part or full of certain outstanding borrowings availed by the Company | 8.00 |
| 2 | Part funding/ margin money of Capital Expenditure to Purchase/ Acquire additional Boats/ vessels (Pelican Conquest) | 15.50 |
| 3 | Working Capital Requirement | 8.00 |
| 4 | General Corporate Purpose | 4.50 |
| KPI | |
|---|---|
| ROE | 20.41% |
| ROCE | 14.36% |
| RoNW | 18.94% |
| PAT Margin | 9.97% |
| Price to Book Value | 2.40 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 7.50 | 5.67 |
| P/E (x) | 12.66 | 16.75 |
| Promoter Holding | 96.44% | 69.44% |
| Market Cap | ₹136.35 Cr. |
The Sadhav Shipping IPO is subscribed 135.69 times on February 27, 2024 6:21:00 PM (Day 3). The public issue subscribed 65.52 times in the retail category, [.] times in the QIB category, and 184.58 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 184.58 | 19,08,000 | 35,21,86,800 |
| Retail | 65.52 | 19,08,000 | 12,50,07,600 |
| Total | 135.69 | 38,16,000 | 51,77,95,200 |
Total Application : 1,04,173
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue Management fees including fees and payment to other intermediaries such as Legal Advisors, Registrars, underwriters and other out of pocket expenses. | 0.40 |
| 2 | Brokerage and selling commission (2)(3)(4) | 0.04 |
| 3 | Printing & Stationery, Distribution, Postage, etc. | 0.03 |
| 4 | Advertisement and Marketing Expenses | 0.12 |
| 5 | Stock Exchange Fees, Regulatory and other Expenses | 0.04 |
| 6 | Underwriting | 1.55 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹95.00 |
| Open | ₹135.00 |
| Low | ₹135.00 |
| High | ₹141.75 |
| Last Trade | ₹141.75 |
Lead Manager Reports
Sadhav Shipping IPO is a SME IPO of 40,18,800 equity shares of the face value of ₹10 aggregating up to ₹38 Crores. The issue is priced at ₹95 per share. The minimum order quantity is 1200.
The IPO opens on Fri, Feb 23, 2024, and closes on Tue, Feb 27, 2024.
Maashitla Securities Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Sadhav Shipping IPO using UPI as a payment gateway. Zerodha customers can apply in Sadhav Shipping IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Sadhav Shipping IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Sadhav Shipping IPO opens on Fri, Feb 23, 2024 and closes on Tue, Feb 27, 2024.
Sadhav Shipping IPO lot size is 1200, and the minimum amount required for application is ₹1,14,000.
You can apply in Sadhav Shipping 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 Sadhav Shipping IPO will be done on Wednesday, February 28, 2024, and the allotted shares will be credited to your demat account by Thu, Feb 29, 2024. Check the Sadhav Shipping IPO allotment status.
The Sadhav Shipping IPO listing date is on Fri, Mar 1, 2024.
