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 name | ABS Marine Services Limited |
| Sector | Logistics |
| Industry | Shipping |
| Company Website | https://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 date | 10 May 2024 |
| IPO Closing | 15 May 2024 |
| Basis of Allotment | 16 May 2024 |
| Initiation Refund | 17 May 2024 |
| Credit to Demat Account | 17 May 2024 |
| Listing Date | 21 May 2024 |
ABS Marine Services IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹96.29 Cr – 6,550,000 shares |
| Fresh Issue | ₹96.29 Cr – 6,550,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹140 to ₹147 per share |
| Lot size | 1000 Shares |
| Market Maker portion | 410,000 shares |
| Shareholding pre-issue | 18,000,000 |
| Shareholding post-issue | 24,550,000 |
| Listing Exchange | NSE SME |
ABS Marine Services IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1000 | ₹147,000 |
| Retail (Max) | 1 | 1000 | ₹147,000 |
| HNI (Min) | 2 | 2,000 | ₹294,000 |
ABS Marine Services IPO Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 35% |
| Retail Shares Offered | 15% |
ABS Marine Services Financial Performance
| FY 2021 | FY 2022 | FY 2023 | 7M FY 2024 | |
| Revenue | 88.55 | 71.63 | 111.25 | 61.10 |
| Expenses | 89.27 | 72.51 | 101.53 | 48.60 |
| Net income | 2.13 | 8.14 | 9.53 | 13.51 |
ABS Marine Services Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 5.29 | 4.52 | 1.18 |
| PE ratio | – | – | – |
| RONW (%) | 2.82 | 9.73 | 10.19 |
| NAV | 41.43 | 46.50 | 51.96 |
| ROCE (%) | 4.60 | 9.69 | 11.87 |
| EBITDA (%) | 28.48 | 43.24 | 27.24 |
| Debt/Equity | 1.13 | 0.73 | 0.52 |
Company Promoters
- Capt. P B Narayanan
- Ms. Shreelatha Narayanan
- Ms. Arathi Narayanan
- Capt. Jeevan Krishnan Sanjeevan
Promoter Holding
| Pre Issue Share Holding | 86.50% |
| Post Issue Share Holding | 63.42% |
ABS Marine Services IPO Lead Manager(s)
GYR CAPITAL ADVISORS PRIVATE LIMITED
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
PURVA SHAREGISTRY (INDIA) PRIVATE LIMITED
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
ABS MARINE SERVICES LIMITED
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
