Lamosaic India Limited...
14 Nov 2024
ABS Marine Services Limited IPO
ABS Marine Services Ltd. (AMSL) started operations with two offshore vessel management and as of the date of December 31, 2023 it had 5 owned vessels comprising 2 advanced offshore vessels servicing the Oil & Gas sector & 3 Harbour Crafts serving the Indian Ports sector. The company has one long term chartered specialized multipurpose offshore vessel serving the Oil & Gas Sector. In addition, as of December 31, 2023 it is carrying out total ship management of 12 vessels on behalf of Government, public sector undertakings, private companies and port authorities. It is providing services to many renowned customers with whom it enjoys long term relationships. AMSL is a fully integrated company with in-house complete vessel management including commercial management.
Its customers are primarily the Government of India, large industrial concerns, public sector undertakings, port authorities and private sector. ABS Marine Services IPO is a book built issue of Rs 96.29 crores. The issue is entirely a fresh issue of 65.5 lakh shares. ABS Marine Services IPO price band is set at ₹140 to ₹147 per share. The minimum lot size for an application is 1000 Shares. GYR Capital Advisors Private Limited is the book running lead manager of the ABS Marine Services IPO, while Purva Sharegistry India Pvt Ltd is the registrar for the issue. The market makers for ABS Marine Services IPO are Giriraj Stock Broking and Commodity Mandi.
ABS Marine Services IPO Overview
| Detail | Description |
|---|---|
| IPO Date | May 10, 2024 to May 15, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹140 to ₹147 per share |
| Lot Size | 1000 Shares |
| Total Issue Size | 6,550,000 shares (aggregating up to ₹96.29 Cr) |
| Fresh Issue | 6,550,000 shares (aggregating up to ₹96.29 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 18,000,000 |
| Share holding post issue | 24,550,000 |
| Market Maker portion | 410,000 shares Giriraj Stock Broking Commodity Mandi |
ABS Marine Services IPO Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| IPO Open Date | Friday, May 10, 2024 |
| IPO Close Date | Wednesday, May 15, 2024 |
| Basis of Allotment | Thursday, May 16, 2024 |
| Initiation of Refunds | Friday, May 17, 2024 |
| Credit of Shares to Demat | Friday, May 17, 2024 |
| Listing Date | Tuesday, May 21, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 15, 2024 |
ABS Marine Services IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1000 | ₹147,000 |
| Retail (Max) | 1 | 1000 | ₹147,000 |
| HNI (Min) | 2 | 2,000 | ₹294,000 |
ABS Marine Services IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,841,000 (28.11%) |
| Market Maker Shares Offered | 410,000 (6.26%) |
| QIB Shares Offered | 1,228,000 (18.75%) |
| NII (HNI) Shares Offered | 922,000 (14.08%) |
| Retail Shares Offered | 2,149,000 (32.81%) |
| Total Shares Offered | 6,550,000 (100%) |
ABS Marine Services IPO Promoter Holding
| Share Holding Pre Issue | 86.50% |
| Share Holding Post Issue | 63.42% |
ABS Marine Services IPO Anchor Investors Details
| Bid Date | May 9, 2024 |
| Shares Offered | 1,841,000 |
| 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 |
Company & Financials
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 harbor 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 harbor 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.
ABS Marine Services Limited Financial Information
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | |||||||||||||||||||||||||||||||||||||
| Assets | 18,480.99 | 17,552.50 | 16,663.28 | |||||||||||||||||||||||||||||||||||||
| Revenue | 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 | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROCE | 18.67% |
| Debt/Equity | 0.39 |
| RoNW | 20.10% |
| P/BV | 2.26 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 13.09 | 9.59 |
| P/E (x) | 11.23 | 15.32 |
Objectives of ABS Marine Services IPO
The Company proposes to utilize the Net Proceeds towards funding the following objectives:
- ● Acquisition of offshore vessel.
- ● Funding the working capital requirements of the Company.
- ● General corporate purposes.
ABS Marine Services IPO Review
The company is providing marine related all kinds 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.
FAQs for ABS Marine Services IPO
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What Is The Size Of The ABS Marine Services Limited IPO?
The offer size of ABS Marine Services Limited is 96.29 crores, consisting of a fresh 67,00,000 lakh shares. The company seeks funds for offshore vessel acquisition, working capital, and general corporate purposes.
-
What Is The Price Band Of The ABS Marine Services Limited IPO?
The price band of the issue is INR 140-147 per share.
-
What are the open and close dates for ABS Marine Services Ltd IPO?
ABS Marine Services Ltd IPO opens for subscription from 10-May-2024 to 15-May-2024.
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What is the lot size and minimum order quantity of the ABS Marine Services Ltd IPO?
The lot size of ABS Marine Services Ltd is 1000 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots.
-
What are the allotment dates for the ABS Marine Services Ltd IPO?
Allotment date for ABS Marine Services Ltd is 16-May-2024 and refund of application amount (in case allotment is not received) will begin from 16-May-2024. If your allotment goes through, then shares will be credited in your Demat account by 17-May-2024.
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Where is the ABS Marine Services Ltd IPO getting listed?
The shares of ABS Marine Services Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
DRHP:
DRHP of ABS Marine Services Limited IPO
Anchor Investor Link:
Anchor Investor Link of ABS Marine Services Limited IPO
-
What Is The Size Of The ABS Marine Services Limited IPO?
The offer size of ABS Marine Services Limited is 96.29 crores, consisting of a fresh 67,00,000 lakh shares. The company seeks funds for offshore vessel acquisition, working capital, and general corporate purposes.
-
What Is The Price Band Of The ABS Marine Services Limited IPO?
The price band of the issue is INR 140-147 per share.
-
What are the open and close dates for ABS Marine Services Ltd IPO?
ABS Marine Services Ltd IPO opens for subscription from 10-May-2024 to 15-May-2024.
-
What is the lot size and minimum order quantity of the ABS Marine Services Ltd IPO?
The lot size of ABS Marine Services Ltd is 1000 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots.
-
What are the allotment dates for the ABS Marine Services Ltd IPO?
Allotment date for ABS Marine Services Ltd is 16-May-2024 and refund of application amount (in case allotment is not received) will begin from 16-May-2024. If your allotment goes through, then shares will be credited in your Demat account by 17-May-2024.
-
Where is the ABS Marine Services Ltd IPO getting listed?
The shares of ABS Marine Services Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
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