20-Feb-2024
2 mins read
The initial public offering (IPO) for Sadhav Shipping is set at a fixed price of 38.18 crores, involving a fresh issue of 40.19 lakh shares exclusively. This IPO is scheduled to open for subscriptions on February 23, 2024, and will close on February 27, 2024. The allocation of shares is anticipated to be completed by February 28, 2024, with a proposed listing on the NSE SME platform slated for March 1, 2024.
Priced at Rs 95 per share, the IPO requires a minimum subscription of 1200 shares, translating to a minimal investment of Rs 114,000 for retail investors. High-net-worth individuals (HNIs) are required to invest in a minimum of 2 lots, equivalent to 2,400 shares, for a total of Rs 228,000.
Isk Advisors Pvt Ltd has been appointed as the lead manager for the book-running process of the Sadhav Shipping IPO. Maashitla Securities Private Limited will serve as the issue’s registrar, with Sunflower Broking acting as the market maker.
Sadhav Shipping Limited Product Portfolio
Founded in 1996, Sadhav Shipping Limited is engaged in the ownership and operation of maritime assets, providing services that encompass port operations, coastal logistics, and other related maritime activities. Initially known as Homa Offshore & Shipping Company Private Limited, the company has since evolved to offer a wide range of services. Utilising barges for the coastal and inland waterway transport of goods, Sadhav Shipping also specialises in the operation and management of port crafts, alongside provisioning patrol services with high-speed security boats.
The business of Sadhav Shipping is structured into three main segments: Offshore Logistics, which focuses on the exploration and production within offshore oil and gas sectors; Port Services, offering dedicated high-speed patrol boats for enhanced port security; and an undisclosed third division, further diversifying its portfolio of maritime solutions.
Objectives of the Sadhav Shipping IPO 2024
The net proceeds from the issue are aimed at addressing several key financial strategies for the company. These include the partial or complete repayment and prepayment of the company’s existing debts. Additionally, the funds will be allocated towards the capital expenditure required for the acquisition or purchase of additional boats/vessels, enhancing the company’s operational capacity. A portion of the proceeds is also designated for bolstering the company’s working capital, ensuring smoother daily operations. Lastly, a segment of the funds will be reserved for general corporate purposes, aiding in the overall growth and development of the company.
Financial Information Sadhav Shipping Limited Financial (In Rs Crore)
Between the fiscal year concluding on March 31, 2023, and the previous year ending on March 31, 2022, Sadhav Shipping Limited witnessed a revenue growth of 13.08% and a surge in its profit after tax (PAT) by 157.68%.
| Period Ended | 30-Sep-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 13,113.49 | 11,628.71 | 6,909.44 | 6,117.64 |
| Revenue | 3,385.69 | 7,890.59 | 6,977.94 | 6,123.67 |
| Profit After Tax | 406.97 | 775.44 | 300.93 | 330.77 |
| Net Worth | 4,501.44 | 4,094.46 | 3,503.51 | 3,205.61 |
| Reserves and Surplus | 4,206.18 | 3,799.21 | 3,208.26 | 2,910.36 |
| Total Borrowing | 6,681.84 | 5,527.45 | 2,083.08 | 1,776.04 |
Important Details of Sadhav Shipping Limited IPO 2024
| IPO Date | February 23, 2024 to February 27, 2024 |
| Listing Date | Yet to be announced |
| Face Value | Rs 10 per share |
| Price | Rs 95 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 4,018,800 shares (aggregating up to Rs 38.18 Cr) |
| Fresh Issue | 4,018,800 shares (aggregating up to Rs 38.18 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 10,333,818 |
| Shareholding post issue | 14,352,618 |
| Market Maker portion | 202,800 shares |
| Sunflower Broking |
Tentative Timeline of Sadhav Shipping IPO 2024
The initial public offering (IPO) for Sadhav Shipping is set to commence on February 23, 2024, and will conclude on February 27, 2024.
| IPO Open Date | Friday, February 23, 2024 |
| IPO Close Date | Tuesday, February 27, 2024 |
| Basis of Allotment | Wednesday, February 28, 2024 |
| Initiation of Refunds | Thursday, February 29, 2024 |
| Credit of Shares to Demat | Thursday, February 29, 2024 |
| Listing Date | Friday, March 1, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 27, 2024 |
Lot Size of Sadhav Shipping IPO 2024
Investors have the option to place bids for a minimum of 1200 shares, with subsequent bids in multiples of that number. The table provided outlines the minimum and maximum investments for both retail investors and High net worth individuals (HNIs) in terms of both shares and monetary value.
| Application | Lots | Shares | Amount (In Rs) |
| Retail (Min) | 1 | 1200 | 114,000 |
| Retail (Max) | 1 | 1200 | 114,000 |
| HNI (Min) | 2 | 2,400 | 228,000 |
IPO Reservation of Sadhav Shipping IPO 2024
| Investor Category | Shares Offered |
| Retail Shares Offered | 50% of the net offer |
| Other Shares Offered | 50% of the net offer |
Promoters of Sadhav Shipping IPO 2024
The promoters of the company are Kamal Kant Biswanath Choudhury, Sadhana Choudhury, Vedant Kamal Kant Choudhury, and Subhas Chandra Choudhury.
Promoter Holdings of Sadhav Shipping IPO 2024
| Shareholding Pre Issue | 96.44% |
| Shareholding Post Issue | 69.44% |
Key Performance Indicator of Sadhav Shipping IPO 2024
The market capitalsation of Sadhav Shipping IPO is Rs 136.35 crore.
| KPI | Values |
| ROE | 20.41% |
| ROCE | 14.36% |
| RoNW | 18.94% |
| P/BV | 2.4 |
| Pre IPO | Post IPO | |
| EPS (Rs) | 7.5 | 5.67 |
| P/E (x) | 12.66 | 16.75 |
Lead Manager(s) of Sadhav Shipping IPO 2024
The lead manager for Deem Roll Tech IPO is Isk Advisors Pvt Ltd.
How to Apply for Sadhav Shipping IPO 2024
Wait for the public issue to open for subscription, then click here to apply for the Sadhav Shipping IPO 2024 with Bigul.
How to Check Allotment Status of Sadhav Shipping IPO 2024
The registrar for Sadhav Shipping IPO 2024 is Maashitla Securities Private Limited. To check your allotment status, please click here.
FAQs
- When is the Sadhav Shipping IPO scheduled?
The IPO is set to open on February 23, 2024, and will close on February 27, 2024.
- What is the price per share for the Sadhav Shipping IPO?
The IPO price is set at Rs 95 per share.
- What is the lot size for the Sadhav Shipping IPO?
The minimum lot size for investors is 1200 shares.
- How much do I need to invest to apply for the Sadhav Shipping IPO?
Retail investors need to invest a minimum of Rs 114,000, which equals 1200 shares. HNIs are required to apply for a minimum of 2 lots (2400 shares), amounting to Rs 228,000.
- Who is the lead manager for the Sadhav Shipping IPO?
Isk Advisors Pvt Ltd is the lead manager for the IPO.
- How can I apply for the Sadhav Shipping IPO?
You can apply for the IPO through online brokers or platforms offering IPO applications once the subscription period opens.
- How do I check the allotment status for the Sadhav Shipping IPO?
The allotment status can be checked on the website of the issue’s registrar, Maashitla Securities Private Limited, after the allotment date.
- What are the main business divisions of Sadhav Shipping Limited?
Sadhav Shipping operates in three main segments: Offshore Logistics, Port Services, and a third undisclosed division.
- What are the objectives of the Sadhav Shipping IPO?
The proceeds will be used for debt repayment, capital expenditure for additional vessels, bolstering working capital, and general corporate purposes.
- Who are the promoters of Sadhav Shipping IPO?
The promoters are Kamal Kant Biswanath Choudhury, Sadhana Choudhury, Vedant Kamal Kant Choudhury, and Subhas Chandra Choudhury.
- What will be the post-IPO shareholding?
Post-IPO, the promoter’s shareholding will decrease from 96.44% to 69.44%.
- What is the market capitalisation of Sadhav Shipping post-IPO?
The market capitalisation post-IPO will be Rs 136.35 crore.