Sadhav Shipping Limited IPO
Sadhav Shipping Ltd. (SSL) provides marine assets to service ports, coastal logistics and other port maritime-related services. Today SSL owns and operates 24 vessels including 19 owned vessels and 5 rented vessels, in various sectors of maritime trade in India. The company has developed a strong customer base in the sectors and is providing its services to leading companies which include ONGC Ltd., Mumbai Port Authority, Paradip Port Authority, Bhabha Atomic Research Centre, Shipping Corporation of India, New Mangalore Port Authority, Deendayal Port Authority (Kandla/Vadinar), Jawaharlal Nehru Port Authority (JNPA), BPCL, Gujarat Police, JSW Ports and more. Sadhav Shipping IPO is a fixed price issue of Rs 38.18 crores.
The issue is entirely a fresh issue of 40.19 lakh shares. Sadhav Shipping IPO price is ₹95 per share. The minimum lot size for an application is 1200 Shares. Isk Advisors Pvt Ltd is the book-running lead manager of the Sadhav Shipping IPO, while Maashitla Securities Private Limited is the registrar for the issue. The market maker for Sadhav Shipping IPO is Sunflower Broking.
Sadhav Shipping IPO Overview
|
Detail
|
Description
|
|
IPO Date
|
February 23, 2024 to February 27, 2024
|
|
Listing Date
|
March 1, 2024
|
|
Face Value
|
₹10 per share
|
|
Price
|
₹95 per share
|
|
Lot Size
|
1200 Shares
|
|
Total Issue Size
|
4,018,800 shares
(aggregating up to ₹38.18 Cr)
|
|
Fresh Issue
|
4,018,800 shares
(aggregating up to ₹38.18 Cr)
|
|
Issue Type
|
Fixed Price Issue IPO
|
|
Listing At
|
NSE SME
|
|
Share holding pre issue
|
10,333,818
|
|
Share holding post issue
|
14,352,618
|
|
Market Maker portion
|
202,800 shares
Sunflower Broking
|
Sadhav Shipping IPO Timeline (Tentative Schedule)
|
Detail
|
Description
|
|
IPO Open Date
|
Friday, February 23, 2024
|
|
IPO Close Date
|
Tuesday, February 27, 2024
|
|
Basis of Allotment
|
Wednesday, February 28, 2024
|
|
Initiation of Refunds
|
Thursday, February 29, 2024
|
|
Credit of Shares to Demat
|
Thursday, February 29, 2024
|
|
Listing Date
|
Friday, March 1, 2024
|
|
Cut-off time for UPI mandate confirmation
|
5 PM on February 27, 2024
|
Sadhav Shipping IPO Lot Size
Sadhav Shipping IPO Reservation
|
Investor Category
|
Shares Offered
|
|
Anchor Investor Shares Offered
|
-
|
|
Market Maker Shares Offered
|
202,800 (5.05%)
|
|
Other Shares Offered
|
1,908,000 (47.48%)
|
|
Retail Shares Offered
|
1,908,000 (47.48%)
|
|
Total Shares Offered
|
4,018,800 (100%)
|
Sadhav Shipping IPO Promoter Holding
|
Share Holding Pre Issue
|
96.44%
|
|
Share Holding Post Issue
|
69.44%
|
Company & Financials
Sadhav Shipping Limited was incorporated in 1996 to own & operate quality marine assets to service their clients. Today Sadhav owns and operates more than 25 vessels in various sectors of the maritime trade in India. With a modern DP Offshore Fleet and a dedicated onboard and shore crew, they provide one of the best services to their clients. They are the first company to set up and operate India’s 1st Port Based Tier 1 Oil Spill Response Centre in Mumbai and are now operating in most of the Major Ports in India. Their barges plying in Coastal & Inland Waterways operate for transportation or lighterage of cargo. They operate & manage Port crafts and also provide high-speed security boats for patrolling services, which constitute our Port Services operations. With professionals at the helm of affairs in the company having more than 150 years of sea time between them, the core strength of operations comes from diligence and unwavering quest for quality services.
Sadhav Shipping Limited Financial Information
Key Performance Indicator
|
KPI
|
Values
|
|
ROE
|
20.41%
|
|
ROCE
|
14.36%
|
|
RoNW
|
18.94%
|
|
P/BV
|
2.4
|
|
|
Pre IPO
|
Post IPO
|
|
EPS (Rs)
|
7.5
|
5.67
|
|
P/E (x)
|
12.66
|
16.75
|
Objectives of Sadhav Shipping IPO
The objectives of the issue are as follows:
-
1. Repayment / Prepayment, in part or full of certain outstanding borrowings availed by the company.
-
2. Part funding of Capital Expenditure to Purchase/ Acquire additional Boats/ vessels.
-
3. Additional Working Capital Requirement.
-
4. General Corporate Purpose.
Sadhav Shipping IPO Review
The company is engaged in operating marine assets including logistics and other port-related services. It marked growth in its top and bottom lines except for FY22 where it marked lower profits in line with the general trends for the segment on account of the Pandemic. SSL is providing many services under one roof and is poised for bright prospects ahead considering the rise in trade activities. The issue appears fully priced based on its FY24 annualized earnings. However, Investors may lap it up for medium to long-term rewards.
FAQs for Sadhav Shipping IPO
-
What Is The Size Of The Sadhav Shipping IPO?
Sadhav Shipping IPO consists of a fresh issue of 40,18, 800 shares worth INR 38.18 crores. The company seeks funds for loan repayment, vessel purchase, working capital, and corporate expenses.
-
What Is The Price Band Of Sadhav Shipping IPO?
The price band of the company is INR 95 per share.
-
When will Sadhav Shipping Limited's IPO be allotted?
The Sadhav Shipping Limited’s shares will be allotted on February 29, 2024.
-
When will Sadhav Shipping Limited's IPO open for subscription?
The IPO subscription window for Sadhav Shipping Limited will open on February 23, 2024.
-
What minimum lot size can retail investors subscribe to?
Retail investors can apply for at least one lot, which is a size of 1,200 shares, with a sum of ₹1, 14,000.
-
When will Sadhav Shipping Limited list on exchanges?
Sadhav Shipping Limited will be listed on NSE Emerge. The stock will be listed on March 1, 2024.
Sadhav Shipping IPO Subscription Status
|
Category
|
Subscription (times)
|
|
Other
|
184.58
|
|
Retail
|
65.52
|
|
Total
|
135.69
|
Read More IPO related blogs-
Owais Metal and Mineral Processing Limited IPO
_Limited_IPO_right.jpg)
_Limited_IPO_right.jpg)
_Mobility_&_Hospitality_Limited_IPO_right.jpg)
