What you must know about ABS Marine Services IPO?
by 5paisa Research Team
07 May 2024
Listing Details
- Listing Exchange NSE SME
- Listing Date 21-May-24
- IPO Price Range ₹ 140 to ₹ 147
- Listing Price ₹ 294
- Listing Change 100.0%
- Last Traded Price ₹ 205
- Current Change 39.5%
ABS Marine IPO Details
- Open Date 10-May-24
- Close Date 15-May-24
- Lot Size 1000
- IPO Size ₹ 96.28 Cr
- IPO Price Range ₹ 140 to ₹ 147
- Min Investment ₹ 140,000
- Listing Exchange NSE SME
- Basis of Allotment 16-May-24
- Refunds 17-May-24
- Credit to Demat Account 17-May-24
- Listing Date 21-May-24
ABS Marine Services IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 10-May-24 | 1.27 | 1.69 | 2.28 | 1.86 |
| 13-May-24 | 1.28 | 1.69 | 9.81 | 6.72 |
| 14-May-24 | 4.82 | 18.38 | 25.96 | 18.29 |
| 15-May-24 | 109.30 | 270.94 | 110.24 | 144.44 |
ABS Marine IPO Synopsis
Last Updated: 15th May, 2024 by 5paisa
ABS Marine Services IPO is all set to open from 10th May to 15th May 2024. The company is involved in the business of offshore vessel management. The IPO includes a fresh issue of 6,550,000 shares worth ₹96.29 cr. The share allotment date is 16th May 2024, and the IPO will be listed on 21st May 2024 on the stock exchanges. The price band is ₹140 to ₹147 and the lot size is 1000 shares.
GYR Capital Advisors Private Limited is the book-running lead manager for this IPO, while Purva Sharegistry India Private Limited is the registrar.
Objectives of ABS Marine Services IPO
ABS Marine Services Limited plans to utilize the raised capital from the IPO to:
● To acquire offshore vessel.
● To meet the working capital requirements.
● General Corporate Purposes.
ABS Marine IPO Size
| Types | Size (₹Cr) |
|---|---|
| Total IPO size | 96.29 |
| Offer for sale | - |
| Fresh issue | 96.29 |
ABS Marine IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1000 | ₹147,000 |
| Retail (Max) | 1 | 1000 | ₹147,000 |
| HNI (Min) | 2 | 2000 | ₹294,000 |
ABS Marine IPO Reservation
| Investors Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Cr.) |
|---|---|---|---|---|
| Anchor Allocation | 1 | 18,41,000 | 18,41,000 | 27.06 |
| Market Maker | 1 | 4,10,000 | 4,10,000 | 6.03 |
| QIB | 109.30 | 12,28,000 | 13,42,17,000 | 1,972.99 |
| NII (HNI) | 270.94 | 9,22,000 | 24,98,03,000 | 3,672.10 |
| Retail | 110.24 | 21,49,000 | 23,69,10,000 | 3,482.58 |
| Total | 144.44 | 42,99,000 | 62,09,30,000 | 9,127.67 |
ABS Marine IPO Anchor Allocation
| Anchor Bid Date | 9 May, 2024 |
| Total no. of shares offered | 1,841,000 |
| Portion Size for Anchor Investors | 27.06 Cr. |
| Lock in Period for 50% shares (30 days) | 15 June, 2024 |
| Lock in Period for rest of shares (90 days) | 14 August, 2024 |
About ABS Marine Services
Established in 1992, ABS Marine Services is involved in the business of offshore vessel management. The company owned 5 vessels including 2 advanced offshore vessels servicing the Oil & Gas sector & 3 Harbour Crafts serving the Indian Ports sector as of December 2023. It also offers crew management to 24 ships including Oil Tankers, Gas Tankers, Bulk Carriers, Passenger Vessels and High-Speed Crafts.
ABS Marine Services’ clientele includes the Government of India, large industrial concerns, public sector undertakings, port authorities and the private sector.
Peer Comparison
● Shipping Corporation Of India Limited
● Seamec Limited
For More Information:
Webstory on ABS Marine Services IPO
ABS Marine Services Financial Status
Profit and Loss
Balance Sheet
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Revenue from operations | 135.15 | 111.57 | 71.63 |
| EBITDA | 44.67 | 30.30 | 30.96 |
| PAT | 23.55 | 9.52 | 8.09 |
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Total Assets | 153.80 | 144.07 | 129.51 |
| Share Capital | 18.00 | 0.01 | 0.01 |
| Total Borrowings | 30.13 | 39.86 | 33.30 |
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 23.44 | -16.90 | 6.85 |
| Net cash from / (used in) investing activities | -26.84 | 25.30 | 14.82 |
| Net cash flow from / (used in) financing activities | -3.83 | -2.72 | -20.39 |
| Net increase (decrease) in cash and cash equivalents | -7.23 | 5.67 | 1.28 |
ABS Marine IPO Key Points
-
Strengths
1. The company has established a brand name and reputation for itself.
2. It operates and manages a diversified fleet.
3. It has a proven ability to acquire vessels at optimal prices and deploy vessels.
4. The company focuses on quality in-house management of operations and cost-competitive vessel management.
5. It is also well-positioned to grow fleet size to take advantage of India’s growth.
6. Experienced Promoters and management team.
-
Risks
1. Underutilisation of the largest vessels can affect the cash flows.
2. An increase in fuel prices or other operating costs can impact the business.
3. The company is subject to extensive regulation and potentially substantial liability.
4. It has reported negative cash flow in the past.
5. It operates in a highly competitive industry.
6. High working capital requirements.
ABS Marine
How to apply for IPO?
-
Login to your 5paisa account and select the issue in the
current IPO section -
Enter the number of lots and price at which you wish to
apply for -
Enter your UPI ID and click on submit. With this, your
bid will be placed with the exchange -
You will receive a mandate notification to block funds in
your UPI app -
Approve the mandate request on your UPI and funds
will be blocked
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ABS Marine IPO FAQs
When does ABS Marine Services IPO opens and closes?
ABS Marine Services IPO opens from 10th May to 15th May 2024.
What is the size of ABS Marine Services IPO?
The size of ABS Marine Services IPO is ₹96.29 cr.
How to apply for ABS Marine Services IPO?
To apply for ABS Marine Services IPO, follow the steps given below:
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for ABS Marine Services IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
What is the price band of ABS Marine Services IPO?
The price band of ABS Marine Services IPO is fixed at ₹140 to ₹147 per share.
What is the minimum lot size and investment required for ABS Marine Services IPO?
The minimum lot size of ABS Marine Services IPO is 1000 shares and the investment required is ₹1,40,000.
What is the allotment date of ABS Marine Services IPO?
The share allotment date of ABS Marine Services IPO is 16th May 2024.
What is ABS Marine Services IPO listing date?
The ABS Marine Services IPO will be listed on 21st May 2024.
Who are the book runners for ABS Marine Services IPO?
GYR Capital Advisors Private Limited is the book-running lead manager for ABS Marine Services IPO.
What is the objective of ABS Marine Services IPO?
ABS Marine Services plans to utilize the raised capital from the IPO to:
● To acquire offshore vessel.
● To meet the working capital requirements.
● General Corporate Purposes.
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