ABS Marine Services Limited manages offshore vessels and owns five vessels as of December 31, 2023. These include two modern offshore vessels for the oil and gas sector and three harbour vessels for the Indian port sector.
The company is divided into four divisions:
- Ship Ownership,
- Ship Management,
- Marine Services,
- Port Services.
The company currently manages a total of 12 vessels for the government, public companies, private companies and port authorities (as of December 31, 2023). It also provides crew management services for 24 other vessels, including oil tankers, gas carriers, bulk carriers, passenger ships and high-speed vessels.
The company owns a fleet of vessels that are fully chartered, managed and manned. These vessels are equipped with state-of-the-art DP-2 multipurpose offshore supply vessels, anchor handling supply vessels, multidisciplinary marine research vessels, coastal research vessels, oceanographic fisheries research vessels, bulk carriers, gas tankers, oil tankers, passenger vessels, high speed craft and harbour vessels.
The company has offices in Mumbai and Chennai, India’s two largest cities, as well as a branch office in Cochin and a satellite office in Kakinada. In addition, as of December 31, 2023, the company has a network of more than 40 in-house professionals to support it in its work.
ABS Marine Services IPO – Details
| IPO Opening Date | 10 May 2024 |
| IPO Closing Date | 15 May 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 65,50,000 Shares Worth ₹96.29 Crore Fresh Issue: 65,50,000 Shares Worth ₹96.29 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹140 – ₹147 |
| Market Lot | 1000 Shares |
| Min Order | 1000 Shares (1 Lot) |
| Listing At | NSE SME |
| Register | Purva Sharegistry India Pvt Ltd |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
ABS Marine Services IPO – Date Schedule
| IPO Open Date | 10 May 2024 |
| IPO Close Date | 15 May 2024 |
| Basis of Allotment | 16 May 2024 |
| Initiation of Refund | 17 May 2024 |
| Credit of Shares to Demat Account | 17 May 2024 |
| IPO Listing Date | 21 May 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 15, 2024 |
ABS Marine Services IPO – Lots Size & Price
| Application | Lots | Shares | Amount ( Cut-Off) |
| Retail (Minimum) | 1 | 1000 | ₹1,47,000 |
| Retail (Maximum) | 1 | 1000 | ₹1,47,000 |
| HNI (Minimum) | 2 | 2000 | ₹2,94,000 |
Competitive Strengths
- Scaled platform with track record of growth and market leadership;
- Diversified fleet;
- Well positioned to grow our fleet size to take advantage of India’s growth;
- Experienced management team, backed by a board and marquee shareholders, along with culture of compliance;
- Deeply entrenched, long-standing client relationships with a diversified and expanding client base.
Company Promoters
- Capt. P B Narayanan
- Shreelatha Narayanan
- Arathi Narayanan
- Capt. Jeevan Krishnan Sanjeevan
Object Of The Issue
- Acquistion of off shore vessel;
- Funding the working capital requirements of the Company; and
- General corporate purposes.
Company Financial
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2022 | 68.93 | 58.79 | 7.71 | 61.14 |
| 31 March 2023 | 97.15 | 86.57 | 8.00 | 48.66 |
| 31 March 2024 | 120.51 | 97.58 | 19.46 | 45.67 |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROCE | 18.67% |
| Debt/Equity | 0.39 |
| RoNW | 20.10% |
| P/BV | 2.26 |
| Pre IPO | Post IPO | |
| EPS (Rs) | 13.09 | 9.59 |
| P/E (x) | 11.23 | 15.32 |
ABS Marine Services IPO Promoter Holding
| Pre Issue Share Holding | 86.50% |
| Post Issue Share Holding | 63.42% |
ABS Marine Services IPO Prospectus
Company Contact Information
| ABS Marine Services Limited Flat No. 3, Anugraha Foundation No. 15, Valliammal Road Vepery, Chennai – 600007 Phone: 044-42914135 Email: cs@absmarine.com Website: http://www.absmarine.com/ |
ABS Marine Services IPO Registrar
| Purva Sharegistry India Pvt Ltd Phone: +91-022-23018261/ 23016761 Email: newissue@purvashare.com Website: https://www.purvashare.com/investor-service/ipo-query |
ABS Marine Services IPO Lead Manager(s)
| 1. GYR Capital Advisors Private Limited |
ABS Marine Services IPO FAQs
| What is ABS Marine Services IPO? ABS Marine Services IPO is a SME IPO. The issue is priced at ₹140 – ₹147 per equity share. The IPO is to be listed on NSE SME. |
| When ABS Marine Services IPO will open? The IPO is to open on 10 May 2024 for QIB – 50%, NII – 15% and Retails – 35% Investors. |
| How to ABS Marine Services IPO? You can apply for ABS Marine Services IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the ABS Marine Services IPO through 5 Paisa? Log in to the 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “ABS Marine Services”. Click on the Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open a Demat Account with 5 Paisa. |
| How to Apply the ABS Marine Services IPO through Edelweiss? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “ABS Marine Services”. Click on the Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Edelweiss. |
| What is ABS Marine Services IPO Size? ABS Marine Services IPO size is ₹96.29 crores. |
| What is ABS Marine Services IPO Price Band? ABS Marine Services IPO Price Band is ₹140 – ₹147. |
| What is ABS Marine Services IPO Minimum and Maximum Lot Size? The minimum bid is 1000 Shares with ₹1,47,000 amount while the maximum bid is 1000 shares with ₹1,47,000. |
| What is the ABS Marine Services IPO Allotment Date? ABS Marine Services IPO allotment date is 16 May 2024. |
| What is the ABS Marine Services IPO Listing Date? ABS Marine Services IPO listing date is 21 May 2024. The IPO is to list on NSE SME. |
