Abs Marine Services Ltd IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
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ABS Marine

CMP

247.00

+5.60 (2.32%)

  • DRHP
₹147

Offer Price

₹ 96.29 Cr

Issue Size

₹ 1,47,000

Min Investment

1,000

Lot size

Time Line

  • 10
    May 2024
    Open
  • 15
    May 2024
    Close
  • 16
    May 2024
    Finalisation of Basis of Allotment
  • 16
    May 2024
    Initiation of Refunds
  • 17
    May 2024
    Transfer of Shares to Demat Account
  • 21
    May 2024
    Listing Date

Objects of the Offer

  • Focus on Government related contracts.

  • Improve its operating efficiency, quality of service and overall competitiveness.

  • Leverage strong relationships with customers.

  • Maintain diversity in contracts and customers.

  • Identify and pursue additional strategic alliances.

Products & Services

  • The Company is a fully integrated company with in-house complete vessel management including commercial management.

Strengths

  • Scaled platform with strong track record of growth and market leadership.

  • Diversified fleet.

  • Well positioned to grow its fleet size to take advantage of India`s growth.

  • Experienced management team, backed by a strong board and marquee shareholders, along with strong culture of compliance.

  • Deeply entrenched, long-standing client relationships with a diversified and expanding client base.

Risks

  • Its business is dependent on a few of the company`s clients who contribute to majority of its revenues from operations. Any loss of business from them may adversely affect its revenues and profitability.

  • Revenue from a vessel is directly proportional to the type of the vessel. Under-utilisation of its largest vessels could affect its cash flows, revenues and results of operations

  • If the company is unable to collect its dues and receivables from the company`s customers, its results of operations and cash flows could be materially and adversely affected.

  • Its operating costs may increase as the company vessels age and its may have to make unexpected capital expenditures in order to maintain its fleet or comply with the evolving regulatory requirements.

  • Limited availability of vessels for purchase in the secondary market at the right time and increase in purchase prices of vessels in the secondary market may affect its financial condition. Its inability to sell vessels at an appropriate time may also adversely affect its results of operations and financial condition.

Company Promoters

Promoters Holding

Issue For IPO
86.00%
Pre Holding

86.00%

Post Holding

-

Top Promoters Holding

Financials

All values in Cr

Mar-2023 Mar-2024 Mar-2023 3-Yr trend
Revenue 111.58 (55.80%) 135.16 (21.10%) 20.10 (-)
Gross Profit 111.58 (55.80%) 135.16 (21.10%) 20.10 (-)
Net Income 111.58 (55.80%) 135.16 (21.10%) 20.10 (-)
Assets 111.58 (55.80%) 135.16 (21.10%) 20.10 (-)
Liabilities 111.58 (55.80%) 135.16 (21.10%) 20.10 (-)

Peers

Company Name Revenue (Cr) Net Profit (Cr) Assets (Cr) Liabilities (Cr) ROE EPS BVPS Current Ratio Debt to Assets
ABS Marine Services Ltd 95.22 8.00 116.28 12.07 20.10 0.00 104,209.40 1.74 0.10
Shipping Corporation of India Ltd 5,794.01 870.16 11,442.98 11,442.98 12.60 18.68 148.18 7.60 0.37
SEAMEC Ltd 437.24 33.01 1,064.12 1,064.12 4.17 13.20 311.32 3.10 0.17

Book Running Managers

  • GYR Capital Advisors Pvt Ltd

Registrar & Transfer Agent

Purva Sharegistry (I) Pvt Ltd

9 ShivShakti Indl Es,
J R Boricha Marg,
Lower Parel - Mumbai - 400 011
Phone : 91-22-23010771/23018261 Fax: 91-22-23012517

Company Contact Information

Flat # 3 Anugraha Foundation,
# 15 Valliammal Road Vepery,
Chennai - 600007
Phone : +044 4291 4135/155 Email : cs@absmarine.com www.absmarine.com

Offer Related Information

Public issue of 65,50,000 equity shares* of face value Rs. 10 each ("Equity Shares") of ABS Marine Services Limited ("The Company" or the "Issuer") for cash at a price of Rs. 147 per equity share (including a securities premium of Rs. 137 per equity share) ("Issue Price"), aggregating up to Rs. 96.27 crores (the "Issue"). 4,10,000 equity shares aggregating to Rs. 6.03 crores will be reserved for subscription by market maker ("Market Maker Reservation Portion"). The issue less the market maker... More

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