Sadhav Shipping IPO will open for subscription from 23 February 2024. The company aims for an issue size of ₹38.18 Cr through this IPO.
Company Overview
| Full name | Sadhav Shipping Limited |
| Sector | Logistics |
| Industry | Shipping |
| Company Website | https://www.sadhavshipping.com/ |
About Company
Founded in 1996, Sadhav Shipping (SSL) is a Mumbai-based company that owns and operates marine assets dedicated to serving ports, coastal logistics, and various other maritime-related services. As of February 2024, SSL owns and operates 24 vessels, comprising 19 owned vessels and 5 rented vessels, across various sectors of maritime trade in India.
Sadhav Shipping operates 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 facility for the ports
The company’s barges operating in coastal and inland waterways are utilized for the transportation or lighterage of cargo. Sadhav Shipping also operates and manages port crafts, and provides high-speed security boats for patrolling services, which form an integral part of its Port Services operations.
Sadhav Shipping has built a robust customer base in the sector, offering its services to leading companies such as ONGC Ltd., Mumbai Port Authority, Pradip Port Authority, Bhabha Atomic Research Centre, Shipping Corporation of India, New Mangalore Port Authority, Deendayal Port Authority (Kandla/Vadinar), Jawaharlal Nehru Port Authority (JNPA), and others. As of 31 March 2023, the company employs 421 individuals.
The Objectives of the Issue
- 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 IPO Timetable
| IPO Opening date | 23 February 2024 |
| IPO Closing | 27 February 2024 |
| Basis of Allotment | 28 February 2024 |
| Initiation Refund | 29 February 2024 |
| Credit to Demat Account | 29 February 2024 |
| Listing Date | 01 March 2024 |
Sadhav Shipping IPO details
| Issue type | Fixed Price Issue IPO |
| IPO issue size | ₹38.18 Cr- 4,018,800 shares |
| Fresh Issue | ₹38.18 Cr- 4,018,800 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Offer Price | ₹95 per share |
| Lot size | 1200 Shares |
| Market Maker portion | 202,800 shares |
| Shareholding pre-issue | 10,333,818 |
| Shareholding post-issue | 14,352,618 |
| Listing Exchange | NSE SME |
Sadhav Shipping IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹114,000 |
| Retail (Max) | 1 | 1200 | ₹114,000 |
| HNI (Min) | 2 | 2,400 | ₹228,000 |
Sadhav Shipping IPO Reservation Details
| Retail Shares Offered | 50% |
| Other Shares Offered | 50% |
Sadhav Shipping Financial Performance
| FY 2021 | FY 2022 | FY 2023 | H1 FY 2024 | |
| Revenue | 60.57 | 69.55 | 77.81 | 33.69 |
| Expenses | 56.66 | 65.55 | 69.01 | 28.42 |
| Net income | 3.31 | 3.01 | 7.75 | 4.07 |
Sadhav Shipping Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 3.20 | 2.91 | 7.50 |
| PE ratio | – | – | 12.67 |
| RONW (%) | 10.32 | 8.59 | 18.94 |
| NAV | 31.02 | 33.90 | 39.62 |
| ROCE (%) | 12.63 | 10.93 | 13.25 |
| EBITDA (%) | 18.75 | 17.25 | 21.47 |
Company Promoters
- Mr. Kamal Kant Biswanath Choudhury
- Mrs Sadhana Choudhury
- Mr. Vedant Kamal Kant Choudhury
Promoter Holding
| Pre Issue Share Holding | 96.44% |
| Post Issue Share Holding | 69.44% |
Sadhav Shipping IPO Lead Manager(s)
ISK ADVISORS PRIVATE LIMITED
501, A. N. Chambers, 130,
Turner Road, Bandra West, Mumbai-400 050
Phone: +91 – 22 – 26431002
Email: ncmpl@ncmpl.com
Website: www.iskadvisors.com
Sadhav Shipping Registrar
MAASHITLA SECURITIES PRIVATE LIMITED
451, Krishna Apra Business Square,
Netaji Subhash Place, Pitampura, Delhi – 110034
Phone: 011-45121795-96
Email: contact@maashitla.com
Website: www.maashitla.com
Sadhav Shipping Contact Details
SADHAV SHIPPING LIMITED
Unit -618, Laxmi Plaza, Bldg No. 9,
New Link Road, Near Laxmi Industrial Estate,
Andheri West, Mumbai, Maharashtra, 400053
Phone: +91 -22-40003355
E-mail: cs@sadhav.com
Website: www.sadhavshipping.com
Sadhav Shipping IPO Allotment Status
Sadhav Shipping IPO allotment status will be available on the Maashitla Securities website. Click on Maashitla Securities IPO weblink to get allotment status.
Final thoughts
Sadhav Shipping 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 make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
