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 opens for subscription on May 10, 2024 and closes on May 15, 2024. The allotment for the ABS Marine Services IPO is expected to be finalized on Thursday, May 16, 2024. ABS Marine Services IPO will list on NSE SME with tentative listing date fixed as Monday, May 20, 2024.
ABS Marine Services IPO price band is set at ₹140 to ₹147 per share. The minimum lot size for an application is 1000 Shares. The minimum amount of investment required by retail investors is ₹147,000. The minimum lot size investment for HNI is 2 lots (2,000 shares) amounting to ₹294,000.
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 maker for ABS Marine Services IPO is Giriraj Stock Broking.
Refer to ABS Marine Services IPO RHP for detailed information.
ABS Marine Services IPO Details
| 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 |
ABS Marine Services IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
ABS Marine Services IPO Timeline (Tentative Schedule)
ABS Marine Services IPO opens on May 10, 2024, and closes on May 15, 2024.
| 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 | Monday, May 20, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 15, 2024 |
ABS Marine Services IPO Lot Size
Investors can bid for a minimum of 1000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1000 | ₹147,000 |
| Retail (Max) | 1 | 1000 | ₹147,000 |
| HNI (Min) | 2 | 2,000 | ₹294,000 |
| Lot Size Calculator | |||
ABS Marine Services IPO Promoter Holding
The promoters of the company are Capt. P B Narayanan, Shreelatha Narayanan, Arathi Narayanan and Capt. Jeevan Krishnan Sanjeevan.
| Share Holding Pre Issue | 86.50% |
| Share Holding Post Issue | 63.42% |
About ABS Marine Services Limited
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.
ABS Marine Services Limited Financial Information (Restated Consolidated)
ABS Marine Services Limited’s revenue increased by 21.27% and profit after tax (PAT) rose by 147.22% between the financial year ending with March 31, 2024 and March 31, 2023.
| 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
The market capitalization of ABS Marine Services IPO is Rs 360.88 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROCE | 18.67% |
| Debt/Equity | 0.39 |
| RoNW | 20.10% |
| P/BV | 2.26 |
Check ABS Marine Services IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 13.09 | 9.59 |
| P/E (x) | 11.23 | 15.32 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2024 that is available in RHP.
Objects of the Issue (ABS Marine Services IPO Objectives)
The Company proposes to utilise the Net Proceeds towards funding the following objects
- Acquistion of off shore vessel
- Funding the working capital requirements of the Company; and
- General corporate purposes.
ABS Marine Services IPO Prospectus
ABS Marine Services Limited Contact Details
ABS Marine Services Limited
Flat No. 3, Anugraha Foundation
No. 15, Valliammal Road
Vepery, Chennai – 600007
Phone: 044-42914135
Email: cs@absmarine.com
Website: http://www.absmarine.com/
ABS Marine Services IPO Registrar
Purva Sharegistry India Pvt Ltd
Phone: +91-022-23018261/ 23016761
Email: newissue@purvashare.com
Website: https://www.purvashare.com/investor-service/ipo-query