Sadhav Shipping Limited IPO Detail
Incorporated in 1996, Sadhav Shipping Limited owns and operates marine assets to service ports, and coastal logistics, and provides other port maritime-related services. The company was previously known as Homa Offshore & Shipping Company Private Limited.
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.
Company Promoters
Mr. Kamal Kant Biswanath Choudhury, Mrs Sadhana Choudhury, Mr. Vedant Kamal Kant Choudhury, and Mr. Subhas Chandra Choudhur.IPO Details
| IPO Opening Date | Feb 23, 2024 |
| IPO Closing Date | Feb 27, 2024 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹95 per equity share |
| Market Lot | 1200 Shares |
| Min Order Quantity | 1200 Shares |
| Listing At | NSE SME |
| Issue Size | ₹38.18 Cr |
| Fresh Issue | ₹38.18 Cr |
| Offer for Sale | - |
| Retail Portion | 50% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.00x | 0.00x | 0.00x | 1.08x | 2.06x | 1.57x |
| Day 2 | 0.00x | 0.00x | 0.00x | 5.55x | 13.17x | 9.39x |
| Day 3 | 0.00x | 0.00x | 0.00x | 184.58x | 65.52x | 135.69x |
IPO Tentative Timetable
The Sadhav Shipping Limited IPO open date is Feb 23, 2024, and the close date is Feb 27, 2024. The issue may list on Mar 01, 2024.
| IPO Open Date | Feb 23, 2024 |
| IPO Close Date | Feb 27, 2024 |
| Basis of Allotment Date | Feb 28, 2024 |
| Initiation of Refunds | Feb 29, 2024 |
| Credit of Shares to Demat Account | Feb 29, 2024 |
| IPO Listing Date | Mar 01, 2024 |
IPO Lot Size
The Sadhav Shipping Limited IPO market lot size is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or ₹114000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 1200 | ₹114000 |
| Maximum | 1 | 1200 | ₹114000 |
IPO Promoter Holding
| Pre Issue Share Holding | 96.44% |
| Post Issue Share Holding | 69.44% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 6117.64 | 6123.67 | 330.77 |
| 31-Mar-22 | 6909.44 | 6977.94 | 300.93 |
| 31-Mar-23 | 11628.71 | 7890.59 | 775.44 |
| 30-Sep-23 | 13113.49 | 3385.69 | 406.97 |
Objects of the Issue:
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 IPO Registrar:
Maashitla Securities Pvt. Limited
Sadhav Shipping Limited IPO Lead Manager(s):
Isk Advisors Pvt Ltd
Company Contact Information:
Sadhav Shipping Limited
521 5th Floor,
Loha Bhavan, P.Dʹmello Road,
Masjid (East), Mumbai - 400009
