Sadhav Shipping was incorporated on 31 March 1999. It is a Mumbai-based company with the objective of owning and operating marine assets to service ports, coastal logistics, and other port maritime-related services. It owns and operates 24 vessels, which include 19 owned vessels and 5 rented vessels, in various sectors of maritime trade in India.
| Bidding Dates |
|---|
| 23 Feb 2024 - 27 Feb 2024 |
| Subscription |
|---|
| 120.72x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,14,000 | 1 | 1 | 1200 | 4.0 M | ₹95 | 69.44 % | ₹381.8 M | RHP DOC |
Sadhav Shipping IPO SUBSCRIPTION STATUS
27 Feb '24Sadhav Shipping IPO overall subscription rate was 120.72 times the total available shares
Sadhav Shipping IPO retail subscription rate was 65.75 times in the retail segment
Sadhav Shipping IPO non-institutional investor subscription rate was 175.69 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
27 Feb 2024 (Day 3) | 65.75x | 175.69x | - |
26 Feb 2024 (Day 2) | 12.15x | 5.33x | - |
23 Feb 2024 (Day 1) | 1.86x | 1.01x | - |
Sadhav Shipping FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| H1FY24 | 40.7 | 336.9 | 125.2 | -68.3 | 28.5% |
| FY23 | 77.5 | 778.1 | 209.9 | -289.8 | 21.5% |
| FY22 | 30.1 | 695.5 | 114.9 | -0.9 | 17.3% |
| FY21 | 33.1 | 605.7 | 118.9 | 116.0 | 18.8% |
Sadhav Shipping IPO SUBSCRIPTION STATUS DETAILS
Sadhav Shipping had 4.0 M shares on offer
Sadhav Shipping IPO offer price was ₹95
Sadhav Shipping IPO minimum Investment was ₹114000
Sadhav Shipping IPO issue size was ₹ 381.8 M
Sadhav Shipping had a minimum lot size of 1200 Shares per application
Sadhav Shipping NUMBER OF SHARES ON OFFER
Sadhav Shipping IPO IMPORTANT DATES
| Issue Open Date | 23 Feb 2024 |
| Issue close Date | 27 Feb 2024 |
| Allotment Date | 28 Feb 2024 |
| Refund Date | 29 Feb 2024 |
| Demat Account Credit Date | 29 Feb 2024 |
| Listing Date | 01 Mar 2024 |
| Listing on Exchange(s) | NSE |
| Sadhav Shipping Allotment Status | Exchange |
Sadhav Shipping IPO subscription opened on 23 Feb 2024, and closed on 27 Feb 2024
IPO allotment for Sadhav Shipping was finalized on Wednesday, 28 Feb 2024
IPO listing for Sadhav Shipping was on NSE on Friday, 01 Mar 2024
Sadhav Shipping IPO LISTING GAINS
| Issue Price (adjusted) | 95.0 |
| Listing Open Price | 135.0 |
| Listing Close Price | 141.8 |
| Listing Gain% | 42.1% |
| Current Gain% | 21.9% |
Sadhav Shipping Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sadhav Shipping Ltd. | 115.8 | 166.3 | 12.7 | 1.7 | 14.5 | 7 | 98.6 | 14.7 | 9.1 | ||||
| Great Eastern Shipping Company Ltd. | 1341.8 | 19156.5 | 5.1 | 0.1 | 3.1 | 17.3 | 15.1 | 6312.4 | 2.5 | 2942.5 | 25.5 | 262.4 | 84 |
| Swan Defence and Heavy Industries Ltd. | 2694.9 | 14197.3 | -62.7 | 2.5 | 50.3 | -324.4 | -7.1 | 440 | 2409.9 | -225.9 | -24.8 | -43 | -25.2 |
| Shipping Corporation of India Ltd. | 304.8 | 14195.2 | 8.8 | 0.1 | 2.2 | 14.9 | 10.2 | 6226.8 | 7.4 | 1352.9 | 60.4 | 34.7 | 78.5 |
| Shreeji Shipping Global Ltd. | 672.8 | 10961.1 | 71.8 | 15.5 | 19.8 | 12.5 | 739.1 | 21.1 | 152.7 | 8.1 | 9.4 | ||
| Seamec Ltd. | 1527.7 | 3884.2 | 15.5 | 0.1 | 4.1 | 19.3 | 13.5 | 1000 | 46.6 | 251.4 | 180.5 | 98.9 | 180.5 |
Sadhav Shipping INFORMATION ON IPO ISSUE
About Sadhav Shipping
Sadhav Shipping was incorporated on 31 March 1999. It is a Mumbai-based company with the objective of owning and operating marine assets to service ports, coastal logistics, and other port maritime-related services. It owns and operates 24 vessels, which include 19 owned vessels and 5 rented vessels, in various sectors of maritime trade in India.
Object of the Issue
- Repayment/prepayment, in part or full, of certain outstanding borrowings availed by the company
- Part funding of capital expenditure to purchase/acquire additional boats/vessels
- Additional working capital requirement
- General corporate purpose
Sadhav Shipping - PROMOTERS
| Name |
|---|
| Kamal Kant Biswanath Choudhury |
| Sadhana Choudhury |
| Vedant Kamalkant Choudhury |
| Subhas Chandra Choudhury |
Sadhav Shipping Lead Manager to the Issue
ISK Advisors Private Limited
ncmpl@ncmpl.com
Sadhav Shipping Registrar to the issue
Maashitla Securities Private Limited
contact@maashitla.com
Sadhav Shipping Strengths
Diverse asset folio
The company has a diverse asset portfolio. It owns and operates 24 vessels in various sectors, which includes 19 owned and 5 rented vessels of various types and sizes
Strong client base
The company primarily serves AAA-rated clients, which include oil & gas companies like ONGC, BPCL, as well as major ports such as Mumbai Port
Sadhav Shipping Risks
Outstanding legal proceedings
There are outstanding legal proceedings involving the company, which may adversely affect the business, financial condition, and results of operations
Highly competitive industry
The industry is highly competitive and subject to intense price competition, which could depress vessel day rates and utilization rates, thereby adversely affecting the business and financial performance
IPO FAQs
The promoters of the company are Kamal Kant Biswanath Choudhury, Sadhana Choudhury, Vedant Kamalkant Choudhury and Subhas Chandra Choudhury.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 95.0 - 95.0.
The IPO application opens on Feb 23, 2024 and closes on Feb 27, 2024.
The minimum lot size for the IPO is 1200. The maximum lot size for the IPO is 1200.
For all category investors, the minimum application amount for this IPO is Rs. 114,000.0, the maximum value for this IPO is Rs 114,000.0.
This IPO will be allotted on Feb 28, 2024.
The refund will be credited to your account on Feb 29, 2024.
The allotted shares will be credited to your demat on Feb 29, 2024.
Sadhav Shipping Ltd.’s shares listed on the stock exchanges on Mar 01, 2024.