News: The Sadhav Shipping initial public offering (IPO) has garnered significant interest from investors. Let’s break down the essential details in simple terms:
Subscription Status
1. On Friday, February 23, the Sadhav Shipping IPO witnessed robust demand. It was subscribed over 1.44 times.
2. A staggering 57,78,000 applications were received for the offered 40,18,800 shares.
Allotment Date
1. The allotment process for the Sadhav Shipping IPO is expected to be finalized on Wednesday, February 28, 2024.
2. Successful investors will soon see their shares credited to their demat accounts.
Listing Date
1. Sadhav Shipping’s shares are set to list on the NSE SME (National Stock Exchange Small and Medium Enterprises) platform.
2. The tentative listing date is yet to be officially confirmed, but investors can anticipate it soon after the allotment process.
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About Sadhav Shipping :
Sadhav Shipping, a Mumbai-based company, has been sailing the seas since its inception in 1996. Their mission? To own and operate marine assets that serve ports, coastal logistics, and other maritime-related services. Let’s dive into the details of this maritime trailblazer:
Setting Sail: A Brief History
Sadhav Shipping embarked on its journey with a clear objective: to navigate India’s waters efficiently. Their fleet comprises 24 vessels, including 19 owned and 5 rented ones. These ships crisscross various sectors of maritime trade within India.
The Maritime Landscape
India’s major ports have been bustling hubs, handling substantial cargo traffic. In FY22, they managed 720.29 million tonnes of cargo, a significant leap from the 671.82 million tonnes in the preceding year. From April 2022 to January 2023, key Indian ports collectively handled 646.10 million tonnes of cargo.
The IPO Voyage
Sadhav Shipping recently set sail on an exciting journey—their IPO (Initial Public Offering). Here are the key details:
Issue Size: The IPO consists entirely of fresh equity, aiming to raise Rs 38.18 crore.
Price Band: Each share is priced at Rs 95, and investors can bid for 1,200 shares in one lot.
Financial Performance: As of September 2023, the company reported revenues of Rs 33.68 crore and a net profit of Rs 4.06 crore.
Anchoring the Future
The net proceeds from the public offer will be utilized for several purposes:
- Debt Repayment
- Capital Expenditure (Capex)
- Working Capital Requirements
- General Corporate Needs
The Crew Behind the Scenes
- Lead Managers: ISK Advisors
- Registrar: Maashitla Securities
Casting the Nets Wide
The IPO reserves 50% of the offer for retail investors, ensuring broad participation.
Important Dates
- Opening Date: February 23
- Closing Date: February 27
- Allotment Date: Likely on February 28
- Listing Date: Expected on March 1
Investors keen on marine assets services and operations should keep an eye on Sadhav Shipping’s IPO developments.
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FAQs
How many people have shown interest in the Sadhav Shipping IPO so far?
On the first day, the Sadhav Shipping IPO has caught the attention of investors and got subscribed 0.51 times. Specifically, the retail part has seen an interest of 0.89 times, while the NII portion has attracted interest 0.13 times.
How much does one share cost in the Sadhav Shipping IPO?
You can get a share in the Sadhav Shipping IPO for ₹95.
When will the Sadhav Shipping IPO start trading?
The expected date for the Sadhav Shipping IPO to begin trading is Friday, March 1, 2024.
