ABS Marine Services IPO
IPO Listing Details
- Listing Date
21 May 2024
- Listing Price
₹ 294.00
- Listing Change
100.00%
- Last Traded Price
₹ 208.70
IPO Details
- Open Date
10 May 2024
- Close Date
15 May 2024
- IPO Price Range
₹ 140 to ₹ 147
- IPO Size
₹ 96.28 Cr
- Listing Exchange
NSE SME
- Listing Date
21 May 2024
IPO Timeline
ABS Marine Services IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 10-May-24 | 1.27 | 1.69 | 2.28 | 1.86 |
| 13-May-24 | 1.28 | 1.69 | 9.81 | 6.72 |
| 14-May-24 | 4.82 | 18.38 | 25.96 | 18.29 |
| 15-May-24 | 109.30 | 270.94 | 110.24 | 144.44 |
Last Updated: 22 May 2024 10:30 AM by 5Paisa
Last Updated: 15th May, 2024 by 5paisa
ABS Marine Services IPO is all set to open from 10th May to 15th May 2024. The company is involved in the business of offshore vessel management. The IPO includes a fresh issue of 6,550,000 shares worth ₹96.29 cr. The share allotment date is 16th May 2024, and the IPO will be listed on 21st May 2024 on the stock exchanges. The price band is ₹140 to ₹147 and the lot size is 1000 shares.
GYR Capital Advisors Private Limited is the book-running lead manager for this IPO, while Purva Sharegistry India Private Limited is the registrar.
Objectives of ABS Marine Services IPO
ABS Marine Services Limited plans to utilize the raised capital from the IPO to:
● To acquire offshore vessel.
● To meet the working capital requirements.
● General Corporate Purposes.
ABS Marine IPO Size
| Types | Size (₹Cr) |
|---|---|
| Total IPO size | 96.29 |
| Offer for sale | - |
| Fresh issue | 96.29 |
ABS Marine IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1000 | ₹147,000 |
| Retail (Max) | 1 | 1000 | ₹147,000 |
| HNI (Min) | 2 | 2000 | ₹294,000 |
ABS Marine IPO Reservation
| Investors Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Cr.) |
|---|---|---|---|---|
| Anchor Allocation | 1 | 18,41,000 | 18,41,000 | 27.06 |
| Market Maker | 1 | 4,10,000 | 4,10,000 | 6.03 |
| QIB | 109.30 | 12,28,000 | 13,42,17,000 | 1,972.99 |
| NII (HNI) | 270.94 | 9,22,000 | 24,98,03,000 | 3,672.10 |
| Retail | 110.24 | 21,49,000 | 23,69,10,000 | 3,482.58 |
| Total | 144.44 | 42,99,000 | 62,09,30,000 | 9,127.67 |
ABS Marine IPO Anchor Allocation
| Anchor Bid Date | 9 May, 2024 |
| Total no. of shares offered | 1,841,000 |
| Portion Size for Anchor Investors | 27.06 Cr. |
| Lock in Period for 50% shares (30 days) | 15 June, 2024 |
| Lock in Period for rest of shares (90 days) | 14 August, 2024 |
Established in 1992, ABS Marine Services is involved in the business of offshore vessel management. The company owned 5 vessels including 2 advanced offshore vessels servicing the Oil & Gas sector & 3 Harbour Crafts serving the Indian Ports sector as of December 2023. It also offers crew management to 24 ships including Oil Tankers, Gas Tankers, Bulk Carriers, Passenger Vessels and High-Speed Crafts.
ABS Marine Services’ clientele includes the Government of India, large industrial concerns, public sector undertakings, port authorities and the private sector.
Peer Comparison
● Shipping Corporation Of India Limited
● Seamec Limited
For More Information:
Webstory on ABS Marine Services IPO
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Revenue from operations | 135.15 | 111.57 | 71.63 |
| EBITDA | 44.67 | 30.30 | 30.96 |
| PAT | 23.55 | 9.52 | 8.09 |
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Total Assets | 153.80 | 144.07 | 129.51 |
| Share Capital | 18.00 | 0.01 | 0.01 |
| Total Borrowings | 30.13 | 39.86 | 33.30 |
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 23.44 | -16.90 | 6.85 |
| Net cash from / (used in) investing activities | -26.84 | 25.30 | 14.82 |
| Net cash flow from / (used in) financing activities | -3.83 | -2.72 | -20.39 |
| Net increase (decrease) in cash and cash equivalents | -7.23 | 5.67 | 1.28 |
Strengths
1. The company has established a brand name and reputation for itself.
2. It operates and manages a diversified fleet.
3. It has a proven ability to acquire vessels at optimal prices and deploy vessels.
4. The company focuses on quality in-house management of operations and cost-competitive vessel management.
5. It is also well-positioned to grow fleet size to take advantage of India’s growth.
6. Experienced Promoters and management team.
Risks
1. Underutilisation of the largest vessels can affect the cash flows.
2. An increase in fuel prices or other operating costs can impact the business.
3. The company is subject to extensive regulation and potentially substantial liability.
4. It has reported negative cash flow in the past.
5. It operates in a highly competitive industry.
6. High working capital requirements.
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FAQs
ABS Marine Services IPO opens from 10th May to 15th May 2024.
The size of ABS Marine Services IPO is ₹96.29 cr.
To apply for ABS Marine Services IPO, follow the steps given below:
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for ABS Marine Services IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The price band of ABS Marine Services IPO is fixed at ₹140 to ₹147 per share.
The minimum lot size of ABS Marine Services IPO is 1000 shares and the investment required is ₹1,40,000.
The share allotment date of ABS Marine Services IPO is 16th May 2024.
The ABS Marine Services IPO will be listed on 21st May 2024.
GYR Capital Advisors Private Limited is the book-running lead manager for ABS Marine Services IPO.
ABS Marine Services plans to utilize the raised capital from the IPO to:
● To acquire offshore vessel.
● To meet the working capital requirements.
● General Corporate Purposes.
