ABS Marine Services IPO

ABS Marine Services IPO will open for subscription from 10 May 2024. The company aims for an issue size of ₹96.29 Cr through this IPO.

Company Overview

Full nameABS Marine Services Limited
Company Websitehttps://absmarine.com/

About Company

ABS Marine Services commenced its operations with two offshore vessels under management. As of 31 December 2023, the company’s fleet has expanded to include five owned vessels, consisting of two cutting-edge offshore vessels dedicated to the Oil & Gas sector and three Harbour Crafts serving the Indian Ports sector. Additionally, the company has one specialized multipurpose offshore vessel under long-term charter, catering to the needs of the Oil & Gas sector.

ABS Marine Services operates a wide-ranging fleet of vessels that include entirely owned, chartered, and fully managed and crewed ships. This fleet features advanced DP-2 Multipurpose Offshore Supply Vessels, Anchor Handling Towing Supply Vessels, Ocean Research Vessels, Coastal Research Vessels, Fishery Oceanographic Research Vessels, Bulk Carriers, Gas and Oil Tankers, Passenger Vessels, High-Speed Crafts, and Harbour Crafts.

As of 31 December 2023, ABS Marine Services is engaged in the total ship management of 12 vessels on behalf of government agencies, public sector undertakings, private companies, and port authorities. Additionally, the company provides crew management services for an additional 24 ships, including Oil Tankers, Gas Tankers, Bulk Carriers, Passenger Vessels, and High-Speed Crafts. The company’s operations are supported by offices in the two major cities of India, namely Mumbai and Chennai, a branch office in Cochin, and a Satellite Office in Kakinada. As of 31 December 2023, ABS Marine Services was further supported by a network of more than 40 in-house professionals.

The Objectives of the Issue

  • Acquisition of off shore vessel
  • Funding the working capital requirements of the Company; and
  • General corporate purposes.

ABS Marine Services IPO Timetable

IPO Opening date10 May 2024
IPO Closing15 May 2024
Basis of Allotment16 May 2024
Initiation Refund17 May 2024
Credit to Demat Account17 May 2024
Listing Date21 May 2024
(Cut-off time for UPI mandate confirmation – 5 PM on May 15, 2024)

ABS Marine Services IPO details

Issue typeBook Built Issue IPO
IPO issue size₹96.29 Cr – 6,550,000 shares
Fresh Issue₹96.29 Cr – 6,550,000 shares
Offer for saleNil
Face value₹10 per share
Price Band ₹140 to ₹147 per share
Lot size1000 Shares
Market Maker portion410,000 shares
Shareholding pre-issue18,000,000
Shareholding post-issue24,550,000
Listing ExchangeNSE SME

ABS Marine Services IPO Lot Size

Retail (Min)11000₹147,000
Retail (Max)11000₹147,000
HNI (Min)22,000₹294,000

ABS Marine Services IPO Reservation Details

QIB Shares Offered50%
NII (HNI) Shares Offered35%
Retail Shares Offered15%

ABS Marine Services Financial Performance

 FY 2021FY 2022FY 20237M FY 2024
Net income2.138.149.5313.51
(Amount in ₹ Crores)

ABS Marine Services Valuations & Margins

FY 2021FY 2022FY 2023
PE ratio
RONW (%)2.829.7310.19
ROCE (%)4.609.6911.87
EBITDA (%)28.4843.2427.24

Company Promoters

  • Capt. P B Narayanan
  • Ms. Shreelatha Narayanan
  • Ms. Arathi Narayanan
  • Capt. Jeevan Krishnan Sanjeevan

Promoter Holding

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

ABS Marine Services IPO Lead Manager(s)

428, Gala Empire, Near JB Tower,
Drive in Road, Thaltej
Ahmedabad-380 054, Gujarat, India
Phone:+91 8777564648
Email: info@gyrcapitaladvisors.com
Website: www.gyrcapitaladvisors.com

ABS Marine Services Registrar

9, Shiv Shakti Industrial Estate, J.R. Boricha Marg, Lower
Parel (East) Mumbai-400011, Maharashtra India
Phone: 022 4961 4132/3199 8810
Email: newissue@purvashare.com
Website: www.purvashare.com

ABS Marine Services Contact Details

Flat No. 3, Anugraha Foundation, No. 15,
Valliammal Road, Vepery, Chennai – 600007, Tamil Nadu
Phone: +044- 42914135/155
E-mail: cs@absmarine.com
Website: www.absmarine.com

ABS Marine Services IPO Allotment Status

ABS Marine Services IPO allotment status will be available on Purva Sharegistry’s website. Click on this link to get allotment status.

Final thoughts

ABS Marine Services IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.

Happy Investing

Leave a Comment

Your email address will not be published. Required fields are marked *