Sadhav Shipping IPO GMP, Allotment Date, Subscription Status

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 Details

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.

Who Can Invest?

1. Retail Investors: The minimum lot size for retail investors is 1200 shares, requiring an investment of ₹114,000.

2. High Net Worth Individuals (HNI): HNIs can bid for a minimum of 2 lots (2400 shares), amounting to ₹228,000.

Subscription Status

1. Overall Subscription: The issue has been subscribed 21.37 times.

2. Retail Portion: Retail investors have booked their shares 25.61 times.

3. NII Portion: Non-Institutional Investors (like big players) have subscribed 15.88 times.

Grey Market Premium (GMP)

Unlisted shares of Sadhav Shipping Ltd are currently trading at Rs 28 higher in the grey market compared to the issue price. This indicates positive investor sentiment.

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

Sadhav Shipping IPO will be listed on NSE SME with a tentative listing date of Friday, March 1, 2024.

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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 is a fresh issue of 40.19 lakh shares, totaling Rs 38.18 crores.

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.