Sahara Maritime IPO is a fixed price issue of Rs 6.88 crores. The issue is entirely a fresh issue of 8.5 lakh shares.
Sahara Maritime IPO opens for subscription on December 18, 2023 and closes on December 20, 2023. The allotment for the Sahara Maritime IPO is expected to be finalized on Thursday, December 21, 2023. Sahara Maritime IPO will list on BSE SME with tentative listing date fixed as Tuesday, December 26, 2023.
Sahara Maritime IPO price is ₹81 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹129,600. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹259,200.
Swaraj shares and securities private limited is the book running lead manager of the Sahara Maritime IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Sahara Maritime IPO is Shreni Shares.
Refer to Sahara Maritime IPO RHP for detailed information.
Sahara Maritime IPO Details
| IPO Date | December 18, 2023 to December 20, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹81 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 849,600 shares (aggregating up to ₹6.88 Cr) |
| Fresh Issue | 849,600 shares (aggregating up to ₹6.88 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 2,221,050 |
| Share holding post issue | 3,070,650 |
| Market Maker portion | 43,200 shares Shreni Shares |
Sahara Maritime IPO Reservation
Sahara Maritime IPO offers 849,600 shares. 403,200 (47.46%) to NII, 403,200 (47.46%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 43,200 (5.08%) |
| Other Shares Offered | 403,200 (47.46%) |
| Retail Shares Offered | 403,200 (47.46%) |
| Total Shares Offered | 849,600 (100%) |
Sahara Maritime IPO Timeline (Tentative Schedule)
Sahara Maritime IPO opens on December 18, 2023, and closes on December 20, 2023.
| IPO Open Date | Monday, December 18, 2023 |
| IPO Close Date | Wednesday, December 20, 2023 |
| Basis of Allotment | Thursday, December 21, 2023 |
| Initiation of Refunds | Friday, December 22, 2023 |
| Credit of Shares to Demat | Friday, December 22, 2023 |
| Listing Date | Tuesday, December 26, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 20, 2023 |
Sahara Maritime IPO Lot Size
Investors can bid for a minimum of 1600 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 | 1600 | ₹129,600 |
| Retail (Max) | 1 | 1600 | ₹129,600 |
| HNI (Min) | 2 | 3,200 | ₹259,200 |
| Lot Size Calculator |
Sahara Maritime IPO Promoter Holding
The promoters of the company are Mr. Sohrab Rustom Sayed and Mr. Nadeem Aboobakar Hira.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 72.32% |
About Sahara Maritime Limited
Incorporated in 2009, Sahara Maritime Limited is a non-governmental organization that provides transportation, storage and communication services for maritime needs. The company offers a range of freight services to its clients, which includes transportation management. The company has partnered with various intermediaries to provide additional services such as multimodal transportation, project cargo handling, third party logistics, packing, loading and unloading of items. Sahara Maritime’s services include the following
Freight Forwarding: The company offers sea freight forwarding services, including booking space for export shipments and organizing all shipping requirements for customers.
Warehousing: As part of its services, the company has leased a warehouse facility to facilitate warehousing and reduce administration time.
Multimodal transportation: The multimodal transportation services offered by the company are a reliable and efficient way of combining different modes of transport, such as sea and land transport, into one overall process. This ensures that goods are transported cost-efficiently from door to door – all under one roof.
Allied logistics services: The company offers a range of services, including handling heavy transportation equipment, chartering shipments, door-to-door deliveries, freight handling and packaging. The door-to-door delivery service facilitates logistics management, while the freight service caters to the special transportation requirements of goods.
The company works on asset light model that reduces the risk of operation cost such as fuel costs, maintenance costs and depreciation and capital expenditure.
Sahara Maritime Limited Financial Information (Restated)
Sahara Maritime Limited’s revenue increased by 24.07% and profit after tax (PAT) rose by 130.64% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 880.95 | 964.52 | 733.57 | 535.74 |
| Revenue | 531.99 | 2,611.12 | 2,104.52 | 1,021.64 |
| Profit After Tax | 1.04 | 120.74 | 52.35 | 64.78 |
| Net Worth | 531.58 | 530.54 | 365.69 | 313.34 |
| Reserves and Surplus | 309.47 | 308.43 | 364.69 | 312.34 |
| Total Borrowing | 163.81 | 173.26 | 11.97 | 38.72 |
| Amount in ₹ Lakhs |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 15.03 |
| ROE | 26.72% |
| ROCE | 32.77% |
| Debt/Equity | 0.33 |
| EPS (Rs) | 5.44 |
| RoNW | 22.76% |
Check Sahara Maritime IPO Peer Comparison here.
Objects of the Issue (Sahara Maritime IPO Objectives)
The Net Proceeds are proposed to be utilised in the following manner
- Funding of capital expenditure requirements of the Company towards purchase of: (i) commercial vehicles; and (ii) Office Equipment’s
- Working capital requirements
- General Corporate Purposes
Sahara Maritime IPO Review (Avoid)
[Dilip Davda] The company has posted lackluster performance with drastic fall in net profit for H1-FY24. Based on annualized FY24 earnings the issue is priced exorbitantly. The tiny equity capital post listing indicates longer gestation for migration to mainboard. There is no harm in skipping this costly bet. Read detail review…
Sahara Maritime IPO Subscription Status (Bidding Detail)
Due to a technical problem we are not able to receive live subscription data from the IPO bidding platform of the stock exchanges. We are working on it.
The Sahara Maritime IPO is subscribed 0.53 times on December 18, 2023 12:39:00 PM (Day 1). The public issue subscribed 1.00 times in the retail category, [.] times in the QIB category, and 0.05 times in the NII category. Check Day by Day Subscription Details (Live Status) Reload Subscription
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 0.05 | 4,03,200 | 20,800 |
| Retail | 1.00 | 4,03,200 | 4,03,200 |
| Total | 0.53 | 8,06,400 | 4,24,000 |
Total Application : 326
*Market Maker portion is not included to NII/HNI.
Sahara Maritime Limited Contact Details
Sahara Maritime Limited
105, 106, 108, Floor-1, Plot142,
Plaza Shopping Centre, Sheriff Devji Street
Chakala Market Mandvi, Mumbai – 400003
Phone: 022-2347 9362
Email: info@saharamaritime.com
Website: https://saharamaritime.com/
Sahara Maritime IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html