20-Apr-2024
2 mins read
ABS Marine Services IPO is offering a 100% book-built public issue. This upcoming IPO is offering a fresh issue of up to 6,700,000 equity shares, the total aggregated size of an offer is accumulated to 6,700,000 of equity shares. The face value is reported as Rs. 10 for each share. This new IPO issue is being made through the book-building process with a reservation of not more than 50% of the new offer reserved for Qualified Institutional Investors, not less than 15% reserved for Non-Institutional Investors and the remaining 35% or more reserved for Retail Individuals. Application for public issue and subscription opening/closing and other important dates will be announced soon; However, keep in mind that the public offering is proposed to be listed on both the exchanges, i.e. NSE and BSE.
About ABS Marine Services Limited
Established in October 1992, ABS Marine Services Limited oversees offshore vessel management and possesses a fleet of five vessels by December 31, 2023. Among these are two advanced offshore vessels catering to the Oil & Gas sector, alongside three Harbour Crafts servicing Indian Ports. The organization operates through four key divisions: Ship Owning, Ship Management, Marine Services, and Port Services. Presently, the company manages a total of 12 vessels serving various entities such as government agencies, public sector undertakings, private companies, and port authorities. Furthermore, they offer crew management services for an additional 24 ships, encompassing oil tankers, gas tankers, bulk carriers, passenger vessels, and high-speed crafts. Their fleet comprises vessels chartered, managed, and manned by the company, featuring state-of-the-art equipment including DP-2 Multipurpose offshore Supply Vessels, Anchor Handling Towing Supply Vessel, and various research and cargo vessels. Operating from offices in Mumbai and Chennai, with additional branches in Cochin and a satellite office in Kakinada, the company is supported by a team of over 40 in-house professionals as of December 31, 2023.
Primary Objectives of Public Issue of ABS Marine Services IPO
The Company proposed to allocate the Net Proceeds in a strategic manner. Firstly, a portion will be designated for the acquisition of an offshore vessel, a crucial asset for expanding its operations and strengthening its maritime capabilities and funds will be allocated to address the Company's working capital requirements, ensuring smooth day-to-day operations and facilitating growth opportunities. However, a portion of the proceeds will be allocated for general corporate purposes.
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Financial Performance of ABS Marine Services Limited (In Rs Lakhs)
The Company reported its net revenue of 113.80 Cr and Profit after Tax of 10.21Cr, which increased by 37.38% and 21.25%%, respectively, for the FY22-23.
| Period Ended | 31-Oct-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 17,817.03 | 17,552.47 | 16,663.22 | 18,220.45 |
| Revenue | 6,385.48 | 11,380.78 | 8,283.98 | 9,195.45 |
| Profit After Tax | 1,401.40 | 1,021.71 | 842.66 | 207.67 |
| Net Worth | 10,701.67 | 9,352.39 | 8,369.95 | 7,548.04 |
| Total Borrowing | 4,343.02 | 4,866.29 | 6,114.77 | 8,562.05 |
Essential Details of ABS Marine Services IPO 2024
| IPO Date | Yet to be announced |
| Listing Date | Yet to be announced |
| Face Value | Rs 10 per share |
| Price Band | Yet to be announced |
| Lot Size | Yet to be announced |
| Total Issue Size | 6,700,000 shares (aggregating up to Rs [.]Cr) |
| Fresh Issue | 6,400,000 shares (aggregating up to Rs [.]Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 18,000,000 |
| Shareholding post issue | 24,700,000 |
Key Performance Indicator of ABS Marine Services Limited
| KPI | Values |
| ROE | 12.62% |
| ROCE | 10.70% |
| Debt/Equity | 0.41 |
| RoNW | 12.62% |
| PAT Margin (%) | 21.16 |
Lead Manager of ABS Marine Services IPO 2024
The lead manager of ABS Marine Services IPO is GYR Capital Advisors Private Limited.
How to Apply for ABS Marine Services Limited IPO
Wait for the public issue to open for subscription, then click here to apply for the ABS Marine Services Limited IPO with Bigul.
How to Check the Allotment Status of ABS Marine Services Limited IPO 2024
Purva Sharegistry India Limited is the registrar for ABS Marine Services Limited IPO. You can check your allotment status by clicking here.
FAQs
1. When is the IPO scheduled to open and close?
ABS Marine Services IPO is opening, closing and listing date is yet to be announced.
2. What will be the price band for the IPO?
The ABS Marine Services Limited IPO price band is not yet disclosed.
3. What are the main objectives of this IPO?
The Company proposed to allocate the Net Proceeds in a strategic manner. Firstly, a portion will be designated for the acquisition of an offshore vessel, a crucial asset for expanding its operations and strengthening its maritime capabilities and funds will be allocated to address the Company's working capital requirements, ensuring smooth day-to-day operations and facilitating growth opportunities. However, a portion of the proceeds will be allocated for general corporate purposes.
4. How has ABS Marine Services Limited performed financially?
The Company reported its net revenue of 113.80 Cr and Profit after Tax of 10.21Cr, which increased by 37.38% and 21.25%%, respectively, for the FY22-23.
5. What are the key performance indicators of ABS Marine Services Limited?
Key performance indicators reported an ROE of 12.62%, a ROCE of 10.70%, a RoNW of 12.62%, and a PAT Margin of 21.16%.
6. How can I apply for the ABS Marine Services IPO?
Once the ABS Marine Services Limited IPO opens for subscription, you can apply for it by clicking here with us on Bigul.
7. How can I check the allotment status of the IPO?
Purva Sharegistry India Limited is the registrar for ABS Marine Services Limited IPO. You can check your allotment status by clicking here.
9. Where will the IPO be listed?
The IPO will be listed on the NSE SME Segment (National Stock Exchange Small and Medium Enterprises).
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