ABS Marine Services IPO Review

 
ABS Marine Services IPO Review

IPO Open Date: May 10, 2024

IPO Close Date: May 15, 2024

IPO Price: ₹140 to ₹147 per share

Lot Size: 1000 Shares

Listing: May 21, 2024

ABS Marine Services is scheduled to hit the market on May 10, 2024 and close on May 15, 2024. ABS Marine Services plans to raise around ₹96.29 Cr through an IPO with a sale of up to 6,550,000 equity shares of ₹10 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%

ABS Marine Services Limited, established in October 1992, operates offshore vessels and owns a fleet of five vessels as of December 31, 2023. The company's vessels cater to both the oil and gas sector with modern offshore vessels and the Indian port sector with three harbor vessels. ABS Marine Services Limited is structured into four divisions: Ship Ownership, Ship Management, Marine Services, and Port Services. Currently managing a total of 12 vessels for various entities including government bodies, public and private companies, and port authorities, the company also offers crew management services for an additional 24 vessels ranging from oil tankers to passenger ships.

The company's fleet consists of vessels that are chartered, managed, and staffed by ABS Marine Services Limited. Their collection includes a variety of vessels such as DP-2 multipurpose offshore supply vessels, anchor handling supply vessels, marine research vessels, bulk carriers, gas tankers, oil tankers, passenger ships, high-speed craft, and harbor vessels. With offices in Mumbai and Chennai, two of India's largest cities, as well as branch locations in Cochin and a satellite office in Kakinada, ABS Marine Services Limited is supported by over 40 in-house professionals as of December 31, 2023, to facilitate its operations effectively.

ABS Marine Services



ABS Marine Services IPO Details

ABS Marine Services IPO opens on May 10, 2024, and closes on May 15, 2024. The Listing date for ABS Marine Services IPO is on May 21, 2024. The price band for IPO is ₹140 to ₹147 per share and lot size of 1000 Shares.

IPO DateMay 10, 2024 to May 15, 2024
Listing DateMay 21, 2024
Price₹140 to ₹147 per share
Lot Size1000 Shares
Issue Size₹96.29 Cr
Face Value₹10 per share

ABS Marine Services IPO Tentative Timetable

ABS Marine Services opening date is May 10, 2024 and close date is May 15, 2024. The IPO allotment date is May 16, 2024. The refund initiation of IPO is on May 17, 2024. The credit of shares in demat account is on May 17, 2024. The listing date is on May 21, 2024.

EventDate
IPO OpeningMay 10, 2024
IPO ClosingMay 15, 2024
IPO Allotment DateMay 16, 2024
Refund InitiationMay 17, 2024
Shares Credit to DematMay 17, 2024
Lisiting DateMay 21, 2024

ABS Marine Services IPO Lot Size

Lot Size of this IPO is 1000 shares. A retail-individual investor can apply for up to 1 lots (1000 shares or ₹147,000).

CategoryLotsSharesAmount
Retail(Minimum)11000₹147,000
Retail(Maximum)11000₹147,000
HNI (Minimum)22000₹294,000

ABS Marine Services IPO Promoter Holding

Pre Issue Share Holding86.50%
Post Issue Share Holding63.42%

ABS Marine Services IPO Review

ABS Marine Services Ltd. is all set to launch its maiden book building route IPO, aiming to raise Rs. 96.29 crores by offering 6,55,000 equity shares at a price band of Rs. 140 to Rs. 147 per share. The company, known for its offshore vessel management and crew services, has shown remarkable growth since FY22 with high-margin contracts, reflecting promising future prospects. With six ongoing high margin contracts and more in the pipeline, investors are advised to consider parking funds for potential medium to long-term rewards.

The financial performance of ABS Marine Services Ltd. has been impressive, with a consolidated revenue and net profit of Rs. 138.02 crores and Rs. 25.41 crores respectively in FY24. The company's enhanced post-IPO market capitalization is projected to be around Rs. 360.89 crores, indicating a positive market sentiment. Despite concerns over sustainability of boosted profits, management remains optimistic due to the addition of new high-margin contracts in FY24, following a similar trend from the previous fiscal years.

In comparison with listed peers such as Shipping Corp. of India and Seamec Ltd., ABS Marine Services Ltd. presents itself as a comprehensive marine services provider with a focus on long-term client relationships and a strong portfolio of high-margin contracts. The company's prudent dividend policy and the backing of experienced lead managers further enhance its investment appeal. Investors looking for exposure to the marine services sector may find ABS Marine Services Ltd.'s IPO worth considering for potential growth opportunities in the evolving market landscape.

ABS Marine Services IPO Subscription Status (Bidding Details)

Table not found

ABS Marine Services IPO Broker Recommendations

  • Capital Market: To be updated soon
  • Anand Rathi: To be updated soon
  • SMC Global: To be updated soon
  • Arihant Capital: To be updated soon

ABS Marine Services IPO FAQs

What is ABS Marine Services IPO?

ABS Marine Services is issuing 6,550,000 equity shares with a face value of 10 each, totaling up to ₹96.29 Cr. The shares are being offered at a price of ₹140 to ₹147 each, with a minimum order quantity of 1000 shares.

Purva Sharegistry India Pvt Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.

When ABS Marine Services IPO will open?

ABS Marine Services will open on May 10, 2024 for QIB, NII, and Retail Investors.

When ABS Marine Services IPO will end?

ABS Marine Services will end on May 15, 2024.

What is ABS Marine Services IPO Size?

ABS Marine Services IPO size is 96.29 Cr.

What is ABS Marine Services IPO Price Band?

ABS Marine Services price band is ₹140 to ₹147 per share.

What is the ABS Marine Services IPO Allotment Date?

ABS Marine Services allotment date is May 16, 2024.

What is the ABS Marine Services IPO Listing Date?

ABS Marine Services listing date is May 21, 2024. The IPO is to be listed on BSE and NSE.

How to ABS Marine Services IPO through Zerodha?

To apply for the IPO “ABS Marine Services” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.

How to Apply ABS Marine Services IPO through Upstox?

To apply for the IPO “ABS Marine Services” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.

How to check ABS Marine Services IPO Allotment Status?

For ABS Marine Services IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.

What is ABS Marine Services IPO GMP?

You can check out here: ABS Marine Services IPO GMP

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About Ishika Agarwal

Ishika Agarwal is a seasoned financial writer with a strong background in the stock market and investment sector. Ishika has a passion for analyzing and interpreting complex financial data to provide valuable insights to her readers.

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