ABS Marine Services Ltd IPO Timeline

ABS Marine Services Ltd IPO opens on 10-May-2024, and closes on 15-May-2024. The ABS Marine Services Ltd IPO bid date is from 10-May-2024 to 15-May-2024. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
ABS Marine Services Ltd IPO Opening Date 10-May-2024
ABS Marine Services Ltd IPO Closing Date 15-May-2024
Basis of Allotment 16-May-2024
Initiation of Refunds 16-May-2024
Credit of Shares to Demat 17-May-2024
ABS Marine Services Ltd IPO Listing Date 21-May-2024

ABS Marine Services Ltd IPO Lot Size

ABS Marine Services Ltd IPO lot size is 1000 shares. A retail-individual investor can apply for up to 1 lots (1000 shares or 147000).

Application Lots Shares Amount
Minimum 1 1000 ₹147000
Maximum 1 1000 ₹147000

ABS Marine Services Ltd IPO Details

ABS Marine Services Ltd IPO Date 10-May-2024 to 15-May-2024
ABS Marine Services Ltd IPO Face Value Shares of ₹10 per share
ABS Marine Services Ltd IPO Price ₹140 to ₹147 per share
ABS Marine Services Ltd IPO Lot Size 1000
Issue Size Shares of ₹10 (aggregating up to ₹96.29 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹96.29 Cr)
Offer for Sale -
Issue Type Book Building - SME
Listing At NSE - SME
QIB Shares Offered -
Retail Shares Offered -
NII (HNI) Shares Offered -
Company Promoters P B Narayanan, Shreelatha Narayanan, Arathi Narayanan.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 Acquisition of offshore vessel
  • 2 Funding the working capital requirements of the company
  • 3 General corporate purposes

Company Financials

ABS Marine Services Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2024 153.81 120.52 19.46
03-2023 144.08 97.16 8.00
03-2022 129.51 68.93 7.77
Amount in ₹ Crore
  • 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.
  • 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.
  • Defects in vessels acquired in the secondary market may not be apparent prior to purchase.
  • Failure to implement its growth strategy to provide services.
  • The COVID-19 pandemic has affected and may continue to materially affect its financial performance in future periods and it may otherwise have material adverse effects on the company's business, results of operations, financial condition, and/ or its cash flows.
  • An increase in fuel prices or other operating costs would have an adverse impact on its profit margins.
  • The failure of its counterparties to meet their obligations to the company under any charter agreements or its failure to account for exceptional circumstances could cause the company to suffer losses or otherwise adversely affect its business.
  • The company is subject to extensive regulation and potentially substantial liability that could require significant expenditures and adversely affect its business, results of operations and financial condition.
  • Vessel values may fluctuate which may result in the incurrence of a loss upon disposal of a vessel.
  • The Company has experienced negative cash flow in the past and may continue to do so in the future, which could have a material adverse effect on its business, prospects, financial condition, cash flows and results of operations.
  • Impact of potential information technology, cybersecurity attacksImpact of potential information technology, cybersecurity attacks.
  • The Company's name and logo are not registered trademark.
  • Its industry is highly competitive and subject to intense price competition, which could depress vessel day rates and utilization rates, thereby adversely affecting its business and financial performance.
  • Increases in interest rates will adversely affect the cost of its borrowings.
  • The company may have difficulty in managing its planned acquistions of additional vessels.
  • The company may not be able to acquire additional vessels to address an immediate need of vessel capacity due to the absence of an active second-hand market for the sale of vessels, and this could have an adverse effect on its financial condition and results of operations.
  • Technological innovation could reduce the amount of charter payments the company receive and the value of its vessels.
  • Its Promoters, Directors and Key Managerial Personnel have interests in the Company other than reimbursement of expenses incurred or normal remuneration or benefits.
  • The company may be unable to attract and retain sufficient qualified and trained employee base which may adversely affect its business.
  • All its vessels are Indian flagged and owned which enables the company to take advantage of the cabotage laws. Any changes to such cabotage law may adversely affect its business, financial condition and results of operations. Further, the company will be at a disadvantage with respect to certain foreign jurisdictions due to their cabotage laws.
  • Its Promoters and members of the Promoter Group have significant control over the Company and have the ability to direct its business and affairs; their interests may conflict with your interests as a shareholder.
  • The average cost of acquisition of Equity Shares held by its Promoters could be lower than the Issue Price.
  • Its future fund requirements, in the form of further issue of capital or securities and/or loans taken by it, may be prejudicial to the interest of the Shareholders depending upon the terms on which they are eventually raised.
  • The company has in past entered into related party transactions and its may continue to do so in the future.
  • Its Promoters has extended personal guarantees with respect to various loan facilities availed by the Company. Revocation of any or all of these personal guarantees may adversely affect its business operations and financial condition.
  • An inability to comply with repayment and other covenants in the financing agreements or otherwise meet its debt servicing obligations could adversely affect the company's business, financial condition, cash flows and credit rating.
  • The company is yet to place orders for purchase of vessels, and may not be able to derive the expected benefits of the deployment of the Net Proceeds, in a timely manner, or at all.
  • The company has not made any alternate arrangements for meeting its capital requirements for the Objects of the Issue. Further, the company has not identified any alternate source of financing the `Objects of the Issue'. Any shortfall in raising / meeting the same could adversely affect its growth plans, operations and financial performance.
  • The company has substantial working capital requirements and may require additional financing to meet working capital requirements in the future. A failure in obtaining such additional financing at all or on terms favorable to it could have an adverse effect on its results of operations and financial condition.
  • Its success largely depends upon the knowledge and experience of its Promoters, Directors, and the company Key Managerial Personnel. Loss of any of its Directors and key managerial personnel or the company's ability to attract and retain them could adversely affect its business, operations and financial condition.
  • Any defect in title/ ownership of owner (s) (including the Promoters/ Promoter Group), from whom the Company has bought space/ taken space on lease, may adversely affect the operations of the Company resulting in loss of business.
  • The requirement of funds in relation to the objects of the Issue has not been appraised.
  • Its ability to pay dividends in the future may be affected by any material adverse effect on its future earnings, financial condition or cash flows.
  • Its insurance coverage may not be adequate to protect the company against all potential losses, which may have a material adverse effect on its business, financial condition and results of operations.
  • The deployment of funds is entirely at its discretion and as per the details mentioned in the chapter titled "Objects of the Issue".
  • The company has not independently verified certain data in this Draft Red Herring Prospectus.
  • The requirements of being a listed company may strain its resources.
  • The Equity Shares have never been publicly traded and the Issue may not result in an active or liquid market for the Equity Shares.
  • There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the SME Platform of National Stock Exchange of India Limited in a timely manner or at all.
  • There is no existing market for its Equity Shares, and the company does not know if one will develop to provide you with adequate liquidity. Further, an active trading market for the Equity Shares may not develop and the price of the Equity Shares may be volatile.
  • The price of the Equity Shares may be highly volatile after the Issue.
  • You will not be able to sell immediately on the Stock Exchanges any of the Equity Shares you purchase in the Issue.
  • There are restrictions on daily movements in the trading price of the Equity Shares, which may adversely affect a shareholder's ability to sell Equity Shares or the price at which Equity Shares can be sold at a particular point in time.
  • The price of the Equity Shares may be volatile, which could result in substantial losses for investors acquiring the Equity Shares in the Issue.
  • Any future issuance of Equity Shares, or convertible securities or other equity-linked securities by the Company may dilute your shareholding and any sale of Equity Shares by its Promoters or members of the company Promoters Group may adversely affect the trading price of the Equity Shares.
  • Sale of Equity Shares by its Promoters or other significant shareholder(s) may adversely affect the trading price of the Equity Shares.
  • Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.
  • Its business is subject to risks inherent in conducting business internationally that may adversely affect the company's operations.
  • Its results of operations may be adversely affected by foreign currency exchange rate fluctuations and movements in interest rates as well as changes to the accounting treatment of the effects of such fluctuations and movements.
  • Its vessels could be arrested by maritime claimants, which would result in a significant loss of earnings and cash flow, thereby adversely affecting its financial condition and results of operations. Its vessels could be arrested by maritime claimants, which would result in a significant loss of earnings and cash flow, thereby adversely affecting its financial condition and results of operations.
  • 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.
  • Continue to manage vessels internally and not outsource to third parties.

ABS Marine Services Ltd IPO Promoter Holding

Pre Issue Share Holding 86%
Post Issue Share Holding 63.04%

ABS Marine Services Ltd IPO Subscription Status (Bidding Detail)

The ABS Marine Services Ltd IPO is subscribed - times on May 15, 2024 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) - - - - -

ABS Marine Services Ltd IPO Prospectus

ABS Marine Services Ltd IPO Listing Date

Listing Date 21 May 24
BSE Script 33676
NSE Symbol ABSMARINE
Listing In NSE - SME
ISIN INE0QRV01016
IPO Price ₹147
Face Value ₹10

ABS Marine Services Ltd IPO Registrar

Purva Sharegistry (I) Pvt Ltd

Phone: 022 4961 4132/3199 8810
Email: newissue@purvashare.com
Website: www.purvashare.com

ABS Marine Services Ltd IPO Lead Manager(s)

  1. GYR Capital Advisors Pvt Ltd

FAQs on ABS Marine Services Ltd IPO

ABS Marine Services Ltd IPO, which opens for subscription from 10-May-2024 to 15-May-2024 has an issue size of ₹96.29 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for ABS Marine Services Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

ABS Marine Services Ltd IPO Opens for subscription from 10-May-2024 to 15-May-2024.

The lot size of ABS Marine Services Ltd is 1000 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹147000 and ₹147000 respectively.

Allotment date for ABS Marine Services Ltd is 16-May-2024 and refund of application amount (in case allotment is not received) will begin from 16-May-2024. If your allotment goes through, then shares will be credited in your Demat account by 17-May-2024.

The registrar for ABS Marine Services Ltd IPO is Purva Sharegistry (I) Pvt Ltd. You can check your IPO allotment status on the registrar's website.

The shares of ABS Marine Services Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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