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 opens for subscription on February 23, 2024 and closes on February 27, 2024. The allotment for the Sadhav Shipping IPO is expected to be finalized on Wednesday, February 28, 2024. Sadhav Shipping IPO will list on NSE SME with tentative listing date fixed as Friday, March 1, 2024.
Sadhav Shipping IPO price is ₹95 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹114,000. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹228,000.
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.
Refer to Sadhav Shipping IPO DRHP for detailed information.
Sadhav Shipping IPO Details
| IPO Date | February 23, 2024 to February 27, 2024 |
| Listing Date | [.] |
| 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 |
Sadhav Shipping IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the net offer |
| Other Shares Offered | 50% of the net offer |
Sadhav Shipping IPO Timeline (Tentative Schedule)
Sadhav Shipping IPO opens on February 23, 2024, and closes on February 27, 2024.
| 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
Investors can bid for a minimum of 1200 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 | 1200 | ₹114,000 |
| Retail (Max) | 1 | 1200 | ₹114,000 |
| HNI (Min) | 2 | 2,400 | ₹228,000 |
| Lot Size Calculator | |||
Sadhav Shipping IPO Promoter Holding
Mr. Kamal Kant Biswanath Choudhury, Mrs Sadhana Choudhury and Mr. Vedant Kamal Kant Choudhury are the promoters of the company.
| Share Holding Pre Issue | 96.44% |
| Share Holding Post Issue |
About Sadhav Shipping Limited
Incorporated in 1996, Sadhav Shipping Limited owns and operates marine assets to service ports, coastal logistics, and provides other port maritime-related services.
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:
- Offshore Logistics: Exploration and production of oil and gas in offshore fields
- Port Services: High-speed patrol boats for ports
- Oil spill response: Tier 1 oil spill response equipment for ports
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.
Sadhav Shipping Limited Financial Information (Restated)
Sadhav Shipping Limited’s revenue increased by 13.08% and profit after tax (PAT) rose by 157.68% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 12,359.24 | 11,628.71 | 6,909.43 | 6,117.61 |
| Revenue | 1,786.61 | 7,890.59 | 6,977.59 | 6,123.65 |
| Profit After Tax | 212.98 | 775.44 | 300.93 | 330.77 |
| Net Worth | 4,307.44 | 4,094.46 | 3,503.51 | 3,205.61 |
| Reserves and Surplus | 4,012.18 | 3,799.21 | 3,208.26 | 2,910.36 |
| Total Borrowing | 6,007.78 | 5,527.45 | 2,083.08 | 1,776.04 |
| Amount in ₹ Lakhs | ||||
Key Performance Indicator
The market capitalization of Sadhav Shipping IPO is Rs 136.35 Cr.
| KPI | Values |
|---|---|
| ROE | 20.41% |
| ROCE | 14.36% |
| RoNW | 18.94% |
| P/BV | 2.4 |
Check Sadhav Shipping IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 7.5 | 5.94 |
| P/E (x) | 12.66 | 16.01 |
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, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of June 30, 2023 that is available in RHP.
Objects of the Issue (Sadhav Shipping IPO Objectives)
The Objects of the Net Issue is to raise funds for:
- Repayment / Prepayment, in part or full of certain outstanding borrowings availed by the company,
- Part funding of Capital Expenditure to Purchase/ Acquire additional Boats/ vessels,
- Additional Working Capital Requirement, and
- General Corporate Purpose.
Sadhav Shipping Limited Contact Details
Sadhav Shipping Limited
521 5th Floor,
Loha Bhavan, P.Dʹmello Road,
Masjid (East), Mumbai – 400009
Phone: +91 ‐22‐40003355
Email: cs@sadhav.com
Website: http://www.sadhavshipping.com/
Sadhav Shipping IPO Registrar
Maashitla Securities Private Limited
Phone: +91-11-45121795-96
Email: contact@maashitla.com
Website: https://maashitla.com/allotment-status/public-issues