ABS Marine Services Limited IPO Detail
Founded in October 1992, ABS Marine Services Limited manages offshore vessels and owns five vessels as of December 31, 2023. These include two advanced offshore vessels that service the Oil & Gas sector and three Harbour Crafts that serve the Indian Ports sector.
The company is divided into four divisions: Ship Owning, Ship Management, Marine Services, and Port Services.
The company is currently managing a total of 12 vessels for the government, public sector undertakings, private companies, and port authorities as of December 31, 2023. They also provide crew management services for 24 other ships, including oil tankers, gas tankers, bulk carriers, passenger vessels, and high-speed crafts.
The company owns a fleet of vessels that are fully chartered, managed, and crewed. These vessels are equipped with state-of-the-art DP-2 Multipurpose offshore Supply Vessels, Anchor Handling Towing Supply Vessel, multi-disciplinary Ocean Research Vessels, Coastal Research Vessels, Fishery Oceanographic Research Vessel, Bulk Carriers, Gas Tankers, Oil Tankers, Passenger Vessels, High Speed Crafts, and Harbour Crafts.
The company has offices in Mumbai and Chennai, the two major cities of India, as well as a branch office in Cochin and a satellite office in Kakinada. Additionally, as of December 31, 2023, they have a network of over 40 in-house professionals to support their operations.
Company Promoters
Expected Gray Market Premium(GMP):
| GMP | Kostak | Subject |
|---|---|---|
| ₹90 (61%) | - | - |
IPO Details
| IPO Opening Date | May 10, 2024 |
| IPO Closing Date | May 15, 2024 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹140 - 147 per equity share |
| Market Lot | 1000 Shares |
| Min Order Quantity | 1000 Shares |
| Listing At | NSE SME |
| Issue Size | ₹96.29 Cr |
| Fresh Issue | ₹96.29 Cr |
| Offer for Sale | - |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 1.27x | 0.00x | 0.00x | 1.69x | 2.28x | 1.86x |
| Day 2 | 1.28x | 0.00x | 0.00x | 6.80x | 9.87x | 6.76x |
| Day 3 | 4.82x | 0.00x | 0.00x | 18.38x | 26.05x | 18.34x |
| Day 4 | 109.30x | 0.00x | 0.00x | 270.94x | 110.24x | 144.44x |
IPO Tentative Timetable
The ABS Marine Services Limited IPO open date is May 10, 2024, and the close date is May 15, 2024. The issue may list on May 21, 2024.
| IPO Open Date | May 10, 2024 |
| IPO Close Date | May 15, 2024 |
| Basis of Allotment Date | May 16, 2024 |
| Initiation of Refunds | May 17, 2024 |
| Credit of Shares to Demat Account | May 17, 2024 |
| IPO Listing Date | May 21, 2024 |
IPO Lot Size
The ABS Marine Services Limited IPO market lot size is 1000 shares. A retail-individual investor can apply for up to 1 lots (1000 shares or ₹147000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 1000 | ₹147000 |
| Maximum | 1 | 1000 | ₹147000 |
IPO Promoter Holding
| Pre Issue Share Holding | 86.50% |
| Post Issue Share Holding | 63.42% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 18220.45 | 9195.45 | 207.67 |
| 31-Mar-22 | 16663.22 | 8283.98 | 842.66 |
| 31-Mar-23 | 17552.47 | 11380.78 | 1021.71 |
| 31-Oct-23 | 17817.03 | 6385.48 | 1401.40 |
Objects of the Issue:
Founded in October 1992, ABS Marine Services Limited manages offshore vessels and owns five vessels as of December 31, 2023. These include two advanced offshore vessels that service the Oil & Gas sector and three Harbour Crafts that serve the Indian Ports sector.
The company is divided into four divisions: Ship Owning, Ship Management, Marine Services, and Port Services.
The company is currently managing a total of 12 vessels for the government, public sector undertakings, private companies, and port authorities as of December 31, 2023. They also provide crew management services for 24 other ships, including oil tankers, gas tankers, bulk carriers, passenger vessels, and high-speed crafts.
The company owns a fleet of vessels that are fully chartered, managed, and crewed. These vessels are equipped with state-of-the-art DP-2 Multipurpose offshore Supply Vessels, Anchor Handling Towing Supply Vessel, multi-disciplinary Ocean Research Vessels, Coastal Research Vessels, Fishery Oceanographic Research Vessel, Bulk Carriers, Gas Tankers, Oil Tankers, Passenger Vessels, High Speed Crafts, and Harbour Crafts.
The company has offices in Mumbai and Chennai, the two major cities of India, as well as a branch office in Cochin and a satellite office in Kakinada. Additionally, as of December 31, 2023, they have a network of over 40 in-house professionals to support their operations.
ABS Marine Services Limited IPO Registrar:
Purva Sharegistry India Pvt Ltd
ABS Marine Services Limited IPO Lead Manager(s):
GYR Capital Advisors Private Limited
Company Contact Information:
ABS Marine Services Limited
Flat No. 3, Anugraha Foundation
No. 15, Valliammal Road
Vepery, Chennai – 600007
