ABS Marine Services Limited (NSE SME)
May 10, 2024 - May 15, 2024
| Price | ₹140 - ₹147 |
| Premium | ₹115 |
|---|---|
| Lot size | 1000 |
| Allotment | May 16, 2024 |
| Listing | May 21, 2024 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 1000 | 147000 | 2149 |
| HNI | 2 | 2000 | 294000 | 922 |
Last updated on 15-May-2024 17:03:01
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIB | 1228000 | 134217000 | 109.3 |
| NIB | 922000 | 250025000 | 271.18 |
| RETAIL | 2149000 | 230886000 | 107.44 |
| Total | 4299000 | 615128000 | 143.09 |
| Retail Apps | 230886 | © IPO Premium | |
| HNI Interest Cost Per Share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹53.52 | @8% ₹61.16 | @9% ₹68.81 | @10% ₹76.45 | @11% ₹84.1 | @12% ₹91.74 |
Anchor Details
| Name of Anchor | No. of Shares | % Portion | Amount (cr) |
|---|---|---|---|
| HDFC BANK LIMITED | 340000 | 18.47% | 5.00 |
| CAPRI GLOBAL CAPITAL LIMITED | 273000 | 14.83% | 4.01 |
| NORTH STAR OPPORTUNITIES FUND VCC-BULL VALUE INCORPORATED VCC SUB FUND | 202000 | 10.97% | 2.97 |
| ANTARA INDIA EVERGREEN FUND LIMITED | 137000 | 7.44% | 2.01 |
| MONEYWISE FINANCIAL SERVICES PVT. LTD | 137000 | 7.44% | 2.01 |
| KINGSMAN WEALTH FUND PCC KIF - II | 137000 | 7.44% | 2.01 |
| INDIA EQUITY FUND 1 | 69000 | 3.75% | 1.01 |
| RAJASTHAN GLOBAL SECURITIES PRIVATE LIMITED | 273000 | 14.83% | 4.01 |
| LRSD SECURITIES PRIVATE LIMITED | 273000 | 14.83% | 4.01 |
| Total | 1841000 | 100.00% | 27.06 |
IPO Reservation
| Investor Category | Shares Offered | No. of Shares |
|---|---|---|
| Retail | 32.80% | 2149000 |
| NII (HNI) | 14.08% | 922000 |
| Anchor | 28.11% | 1841000 |
| QIB | 18.75% | 1228000 |
| Market Maker | 6.26% | 410000 |
| Total | 100.00% | 6550000 |
ABS Marine Services IPO Details
| Issue Size | 6,550,000 shares (aggregating up to ₹96.29 Cr) |
| Fresh Issue | 6,550,000 shares (aggregating up to ₹96.29 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 18,000,000 |
| Share holding post issue | 24,550,000 |
| Market Maker portion | 410,000 shares Commodity Mandi |
Key Performance Indicator
| KPI | Mar-24 | Mar-23 | Mar-22 |
|---|---|---|---|
| ROCE | 18.67% | 11.66% | 9.80% |
| RONW | 20.10% | 10.19% | 9.67% |
| D/E | 0.39 | 0.52 | 0.73 |
| EPS (basic & Diluted) | 13.09 | 5.29 | 4.50 |
| P/BV | 2.26 | ||
| P/E Pre IPO | 11.23 |
Company Financials
ABS Marine Services Limited Financial Information (Restated Consolidated)
ABS Marine Services Limited's revenue increased by 21.27% and profit after tax (PAT) rose by 147.22% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|
| Assets | 18,480.99 | 17,552.50 | 16,663.28 |
| Revenue | 13,801.89 | 11,380.78 | 8,283.98 |
| Profit | 2,355.41 | 952.74 | 809.43 |
| Net Worth | 11,717.39 | 9,352.42 | 8,370.01 |
| Reserves | 9,917.39 | 9,351.42 | 8,369.01 |
| Borrowing | 4,567.96 | 4,866.29 | 6,114.77 |
| Amount in Lakhs | |||
About Company
Established in October 1992, ABS Marine Services Limited is a prominent player in the maritime industry, specializing in the management of offshore and harbour vessels. With a fleet of five vessels, including modern offshore vessels for the oil and gas sector and harbour vessels for the Indian port sector, the company provides comprehensive services across four divisions: Ship Ownership, Ship Management, Marine Services, and Port Services. Managing a total of 12 vessels for various clients and providing crew management services for an additional 24 vessels, ABS Marine Services Limited ensures operational excellence and reliability. Equipped with state-of-the-art vessels, including DP-2 multipurpose offshore supply vessels and marine research vessels, the company offers a diverse range of solutions to meet client needs. With offices strategically located in Mumbai, Chennai, Cochin, and Kakinada, and supported by a network of over 40 in-house professionals, the company demonstrates a commitment to delivering high-quality services and maintaining industry leadership.
Strength Factors
Market Leadership and Growth Track Record: ABS Marine Services Limited has a proven track record of growth and market leadership, demonstrating its ability to succeed and expand in the maritime industry.
Diversified Fleet Portfolio: The Company’s fleet comprises a diverse range of vessels catering to different sectors, mitigating risk and enhancing revenue potential.
Strategic Positioning for Expansion: With a strong presence in key Indian cities and a well-established network, ABS Marine Services Limited is positioned to efficiently grow its fleet size and capitalize on India's expanding maritime opportunities.
Risk Factors
Client Concentration Risk: Dependency on a limited number of clients for the majority of revenues poses a significant risk. Any loss of business from these key clients could adversely impact revenues and profitability.
Vessel Quality Risk: Purchasing vessels from the secondary market carries the risk of undisclosed defects, potentially leading to unexpected expenses for repairs or replacements post-acquisition.
Historical Negative Cash Flow: Previous instances of negative cash flow and the potential for continued occurrences in the future pose a risk to the company's financial stability and operational sustainability.
ABS Marine Services IPO Lead Manager(s)
- GYR Capital Advisors Private Limited
Purva Sharegistry India Pvt Ltd
Phone: +91-022-23018261/ 23016761
Email: newissue@purvashare.com
Website: https://www.purvashare.com/investor-service/ipo-query