Sadhav Shipping Limited

23 Feb 2024 - 27 Feb 2024 Individual Category SME IPO NSE

Min Investment

₹228000

Price Band

₹95

Issue Size

40.19 lakhs
Equity Shares

Lot Size

1200 (per lot)

IPO Dates
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23 Feb 2024

Open Date

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27 Feb 2024

Close Date

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28 Feb 2024

Allotment Date

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01 Mar 2024

Listing Date

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.

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About Sadhav Shipping Limited

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.

Founded

1996

Managing Director

Kamal Kant Choudhury

Parent Organization

IPO Objectives

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.

Company Promoters

Subscription Details

Investor Category Subscription (times)
Qualified Institutions 0
Non-Institutional Buyers 0
bNII (bids above ₹10L) 0
sNII (bids below ₹10L) 0
Retail Investors 0
Employees 0
Others 0
Total 0
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