May 21, 2024
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ABS Marine Services IPO GMP Guidance & Subscription Status at Chanakyanipothi.com,
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Table of Contents
ABS Marine Services IPO Post Listing Review:
Listed at Rs. 294, premium of 100% over the issue price of Rs. 147. The listing has been very much above the expectations of the grey market players.
What was the last GMP of ABS Marine Services IPO?*
Premium: Rs. 115
Subject to Rs 87400
Check Subscription status of ABS Marine Services IPO
On 15 May 2024 @ 5.00 (Day 4) (Closed)
Review: Solid response on Day 4
QIB: 109.30 T
NII: 270.94 T
RII: 110.24 T
Total: 144.44 T
Application: 236910
Amount wise Subscription: Rs. 13908 Crore
What is the business of ABS Marine Services?
The company started operations with two offshore vessel management and as of the date of December 31, 2023 it has 5 owned vessels comprising of 2 advanced offshore vessels servcing the Oil & Gas sector & 3 Harbour Crafts serving the Indian Ports sector It has one long term chartered specialised
multipurpose offshore vessel serving the Oil & Gas Sector. In addition, as of December 31, 2023 it is carrying out total ship management of 12 vessels on behalf of Government, public sector undertakings, private companies and port authorities. It is providing crew management services to a further 24 ships comprising Oil Tankers, Gas Tankers, Bulk Carriers, Passenger Vessels and Hisgh Speed Crafts.
Its fully owned, chartered-in, totally managed & crewed fleet includes state of the art DP-2 Multipurpose offshore Supply Vessels, Anchor Handling Towing Supply Vessel, multi-disciplinary Ocean Research Vessels, Coastal Research Vessels, Fishery Oceanographic Research Vessel, Bulk Carriers, Gas Tankers, Oil Tankers, Passenger Vessels, High Speed Crafts & Harbour Crafts.
It is a fully integrated company with in-house complete vessel management including commercial management.
Its customers are primarily comprised of Government of India, large industrial concerns, public sector undertakings, port authorities and private sector. It has also entered into 10 (ten) strategic contracts with Governemnt agencies which contributes towards its Revenue from Operations. Out of the ten contracts, one major contarct with the Ministry of Earth and Science (MOES) contributes towards our 23.50% of the Revenue from operations.
Get more information about the company @ http://www.absmarine.com/
| ABS Marine Services IPO Details | |
| IPO opens on | 10 May 2024 |
| IPO closes on | 15 May 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 6700000 Shares / Rs 96.29 Crore |
| * Fresh Issue | 6700000 Sh / Rs 96.29 Cr |
| * Offer for Sale | – Sh /Rs – Cr |
| Market Maker Portion | 410000 Shares |
| Net offer to Public | 6140000 Shares/ Rs.90.26 Crore |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 140-147 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 1000 Shares |
| Listing will at | NSE SME |
| Shares offered in ABS Marine Services IPO | ||
| Shares | Rs. (Cr) | |
| QIB (50%) | 3070000 | 45.13 |
| NII (15%) | 921000 | 13.54 |
| RII (35%) | 2149000 | 31.59 |
| Total Shares | 6140000 | 90.26 |
| Retail portion will be oversubscribed by | 2149 | |
| Forms | ||
| How much Shares to Apply in ABS Marine Services IPO? | ||
| Min Retail Application | 1000 Shares | Rs. 147000 |
| Min HNI Application | 2000 Shares | Rs.294000 |
Who are the Promoters of ABS Marine Services IPO?
CAPT. P B NARAYANAN, MS. SHREELATHA NARAYANAN, MS. ARATHI NARAYANAN AND CAPT. JEEVAN KRISHNAN SANJEEVAN
What are the Objects of ABS Marine Services IPO?
The Offer comprises only of a Fresh Issue of Equity shares.
The Company proposes to utilise the Net Proceeds towards funding the following objects:
1.Acquistion of offshore vessel
2.Funding the working capital requirements of the Company; and
3.General corporate purposes.
| ABS Marine Services IPO Tentative timetable | |
| IPO opens on | 10 May 2024 |
| IPO Closes on | 15 May 2024 |
| IPO Allotment on | 16 may 2024 |
| Refund Initiation | 17 May 2024 |
| Credit of Shares | 17 May 2024 |
| Listing on | 21 May 2024 |
| Registered Office of the Company ABS Marine Services Limited Flat No. 3, Anugraha Foundation No. 15, Valliammal Road Vepery, Chennai – 600007 |
| Who is the Lead Manager of ABS Marine Services IPO? GYR Capital Advisors Private Limited |
| Who is the Registrar to IPO? Purva Sharegistry India Pvt Ltd |
| ABS Marine Services IPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs.in Cr | Rs.in Cr | Rs. | % | |
| 2020-21 | 91.95 | 2.08 | 5.29 | 2.82 |
| 2021-22 | 82.84 | 8.43 | 4.52 | 9.73 |
| 2022-23 | 113.81 | 10.22 | 1.18 | 10.19 |
| Book Value of the Share on | 31.03.2023 | Rs 51.96 | ||
| BV of the Share at cap price | after the IPO | Rs. – | ||
| Offer Price/upper band | Rs. 147 | |||
| ABS Marine Services IPO Key Performance indicators |
|
| Price/last EPS of 22-23 | 14.38 |
| Price/BV Ratio | 2.88 |
| Upper price/BV after IPO | – |
How ABS Marine Services IPO compares with the Peers?
| As per DRHP | FV | Total Income | PE Ratio |
| Rs. | In Cr. | @ | |
| ABS Marine Services | 10 | 114 14.38 | |
| Shipping Corporation of India | 10 | 5907 | 12.51 |
| Seamac ltd | 10 | 457 | 87.81 |
# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
ABS Marine Services IPO To the point Guidance
ABS Marine Services started operations with two offshore vessel management and as of the date of December 31, 2023, it has 5 owned vessels comprising of 2 advanced offshore vessels servcing the Oil & Gas sector & 3 Harbour Crafts serving the Indian Ports sector It has one long term chartered specialised
multipurpose offshore vessel serving the Oil & Gas Sector.
Size: Net Size of the IPO Rs. 90.26 Crore is very large. However, considering liquidity in the system and investor appetite, one time oversubscription may not pose any problem.
Financial Snapshot: The company has shown consistent growth in the topline. However, the profits for the year 222-23 has shot up to Rs. 10.22 Crore as compared to net profit of Rs. 2.08 crore. So compared to 23.77% rise in the topline, the profits have shot up to Rs. 10.22 crore (e.g. 4.91 times rise). We are not sure, whether the company can maintain such high profits in the future. From this angle, we are hesitant to recommend the IPO. Even very large size is another deterrent. May Avoid.
Quicklinks
ABS Marine Services IPO GMP today details?
ABS Marine Services IPO
ABS Marine Services IPO FAQs
What is ABS Marine Services IPO?
ABS Marine Services is a SME IPO of 6700000 equity shares of the face value of Rs. 10 aggregating up to Rs.? Crores. The issue is priced at Rs.? per share. The minimum order quantity is ? Shares.
When will ABS Marine Services IPO open?
ABS Marine Services IPO opens on April ?, 2024, and closes on April ?, 2024.
What is the lot size of ABS Marine Services IPO?
ABS Marine Services IPO lot size is ? Shares, and the minimum amount required is Rs.?.
How to apply for ABS Marine Services IPO?
You can apply in ABS Marine Services IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don’t offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
When is ABS Marine Services IPO allotment?
The finalization of Basis of Allotment for ABS Marine Services IPO will be done on April ?, 2024, and the allotted shares will be credited to your demat account by April ?, 2024.
When is ABS Marine Services IPO listing date?
ABS Marine Services IPO listing date is April ?, 2024.
