Marinetrans India Ltd IPO Timeline
Marinetrans India Ltd IPO opens on 30-Nov-2023, and closes on 05-Dec-2023. The Marinetrans India Ltd IPO bid date is from 30-Nov-2023 to 05-Dec-2023. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.
|Marinetrans India Ltd IPO Opening Date
|Marinetrans India Ltd IPO Closing Date
|Basis of Allotment
|Initiation of Refunds
|Credit of Shares to Demat
|Marinetrans India Ltd IPO Listing Date
Marinetrans India Ltd IPO Lot Size
Marinetrans India Ltd IPO lot size is 4000 shares. A retail-individual investor can apply for up to 1 lots (4000 shares or 104000).
Marinetrans India Ltd IPO Details
|Marinetrans India Ltd IPO Date
|30-Nov-2023 to 05-Dec-2023
|Marinetrans India Ltd IPO Face Value
|Shares of ₹10 per share
|Marinetrans India Ltd IPO Price
|₹26 per share
|Marinetrans India Ltd IPO Lot Size
|Shares of ₹10 (aggregating up to ₹10.92 Cr)
|Shares of ₹10 (aggregating up to ₹10.92 Cr)
|Offer for Sale
|Fixed Price - SME
|NSE - SME
|QIB Shares Offered
|Retail Shares Offered
|NII (HNI) Shares Offered
|Tirajkumar Babu Kotian, Arunkumar Narayan Hedge.
Objects of the Issue
The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
- 1 Funding of working capital requirements of the company
- 2 General corporate expenses
Marinetrans India Ltd Financial Information (Restated)
|Profit After Tax
|Amount in ₹ Crore
- Organization stability, Rich management experience and skilled team.
- Smooth flow of operations.
- Well-defined organizational structure.
- Existing Supplier Relationship.
- Customer Centric Business Approach.
- The Company and Promoter of the Company are party to certain litigation and claims. These legal proceedings are pending at different levels of adjudication before the court and regulatory authority. Any adverse decision may make it liable to liabilities/penalties and may adversely affect its reputation, business, and financial status.
- The land parcels on which the Registered Office of the Company is located, is being shared between the Company and its Subsidiaries. The said premise is not owned by it and are held by it on a leasehold/ rental basis. In the event the company lose or are unable to renew such leasehold rights, its business, results of operations, financial condition and cash flows may be adversely affected.
- The company depends its intermediaries for Logistic, transport management and freight-related services etc for carrying out its business operations, and termination of the arrangements with any of these intermediaries may adversely affect the company business and results of operations.
- Significant increases in freight, transportation and other costs may materially and adversely affect its business, financial condition, and results of operations.
- The company is heavily dependent on trucks, trailers, and other transportation vehicles for the operations. Any breakdown of the trucks, trailers etc. will have a significant adverse effect on its business, reputation, financial results, and growth prospects.
- There has been a case filed against the Promoter and Company in accordance with the Memorandum of Understanding entered with Ms. Baytown Bonding Private Limited for compensation demands.
- The company's business is dependent on the road network in India and its ability to capital the owned as well as hired vehicles in an uninterrupted manner. Any disruptions or delays in this regard could adversely affect it and lead to a loss of reputation and/ or profitability, if the responsibility of issuing a bill of lading is on the Company.
- The company failure to perform in accordance with demand of its client could result in loss of business or payment of liquidated damages.
- The company does not verify the contents of the goods transported by it, thereby exposing it to the risks associated with the transportation of goods in violation of applicable regulations.
- The company Promoter had stood as a surety/ guarantor for loan facilities obtained by the third party. As on date of this Draft Prospectus, the said third party has failed and defaulted in servicing to repay such loans in accordance with the terms and conditions of the financing documents. This has triggered repayment obligations on the Promoter, which may impact their ability to effectively service their obligations as the Promoter and thereby, impact its business and operations.
- The company is exposed to the risk of delays or non-payment by its clients, which may also result in cash flow mismatches.
- The company's business operations are majorly concentrated in certain geographical region especially in the state of Maharashtra, India and any adverse developments affecting its operations in these regions could have an adverse impact on the company revenue and results of operations.
- The Company's failure to maintain the quality standards of the services or keep pace with the technological developments could adversely impact its business, results of operations and financial condition.
- The company requires a number of approvals, NOCs, licences, registrations and permits in the ordinary course of its business. Some of these approvals are required to be transferred in the name of "Marinetrans India Limited" from "Marinetrans India Private Limited" pursuant to conversion and name change of the company and any failure or delay in obtaining such approvals or renewal of the same in a timely manner may adversely affect its operations.
- The company lenders have charge over the immovable properties of the Director and Promoter in respect of finance availed by it.
- Failure or disruption of the IT and/or business resource planning systems may adversely affect its business, financial condition, results of operations, cash flows and prospects. Further changes in technology may render the company current technologies obsolete or require it to make substantial capital investments.
- There have been instances of non-compliances, and/ or delayed filings in the past with various regulatory authorities, and also certain of the corporate records are not traceable or have discrepancies. The company cannot assure you that any regulatory proceedings or actions will not be initiated against it in the future, and its will not be subject to any penalty imposed by the competent regulatory authority in this regard.
- The members of the Promoter Group have been bequeathed with the ownership of the Equity Shares pursuant to Gift Deeds executed by the Promoter.
- The company Promoter has taken vehicle loans in his personal capacity, but the repayment of the loan is being handled by the Company. Additionally, the vehicle purchased with these loans is being used for the business operations of the company.
- Its inability to meet the obligations, including financial and other covenants under its debt financing arrangements could adversely affect the company business, financial condition, cash flows and results of operations.
- The company dependence on its Subsidiaries exposes it to significant risks.
- The Company has availed unsecured loan from parties other than bankers & financial institutions which is repayable on demand. Any demand from the lender for repayment of such unsecured loan may affect its cash flow and financial condition.
- The premises where the registered office of the Company and the Subsidiaries is located, is the hub from wherein various companies offer varied services similar to its business, such as freight forwarding, cargo handling, warehousing, and logistics to customers. The company may face competition from such companies operating not only in the domestic markets but also international companies, which may adversely affect the market position and business.
- Acquisitions, strategic investments, partnerships, or alliances may be difficult to integrate, and may adversely affect the company financial condition and results of operations.
- The company has trade payables that are owed to various parties. Its trade payables were Rs. 685.76 Lakhs, Rs. 509.81 Lakhs, Rs. 630.93 Lakhs, and Rs. 906.47 Lakhs, as of nine-months period ended December 31, 2022, and for the Financial Years ended March 31, 2022, March 31, 2021, and March 31, 2020, respectively. A majority of such trade payables are due within one year. Any inability to repay such trade payables could have an adverse impact on the financial condition and results of operations.
- The company has contingent liabilities and capital commitments. Its financial condition could be adversely affected if any of these contingent liabilities or capital commitments materialize.
- If the company is unable to manage its growth effectively or if the company estimates or assumptions used in developing its strategic plan are inaccurate or the company is unable to execute its strategic plan effectively, the business and prospects may be materially and adversely affected.
- The company's success depends heavily upon the Promoter, Directors, and Key Managerial Personnel for their continuing services, strategic guidance, and financial support. Its success depends heavily upon the continuing services of Promoter & Directors who are the natural person in control of the Company.
- The Company has had negative cash flow in the past and may continue to have negative cash flows in the future.
- The trend toward outsourcing of supply chain management activities, throughout India or within specific sectors, may change, thereby reducing demand for its services.
- In addition to normal remuneration, other benefits, and reimbursement of expenses of the Directors (including the Promoter) and Key Management Personnel are interested in the Company to the extent of their shareholding and dividend entitlement in the Company.
- The company has issued Equity Shares during the preceding 12 months at prices that may be lower than the Issue Price.
- Reliance has been placed on declarations and affidavits furnished by certain of the Directors and Key Managerial Personnel for details of their profiles included in this Draft Prospectus.
- The objects of the Issue include funding working capital requirements of the Company, which is based on certain assumptions and estimates.
- The Company's insurance coverage may not be adequate to protect us against all material hazards which may result in disruptions of operations/monetary loss on account of stoppage of work.
- Upon completion of the Issue, the Promoter / Promoter Group may continue to retain significant control, which will allow them to influence the outcome of matters submitted to the shareholders for approval.
- The average cost of acquisition of Equity Shares by the Promoter is lower than the Issue Price.
- Employee misconduct, errors or fraud could expose it to business risks or losses that could adversely affect its business prospects, results of operations and financial condition.
- If the company is unable to retain existing users and acquire new customers, Its future revenues and operating results will be harmed.
- The deployment of funds raised through this Issue shall not be subject to any Monitoring Agency and shall be purely dependent on the discretion of the management of the Company.
- The company Subsidiaries have objects which would allow them to engage in the line of business similar to the Company. There are no non - compete agreements between the Company and such Subsidiaries. Its cannot assure that the Promoter will not favor the interests of such Subsidiaries over the interest or that the said entities will not expand which may increase the competition, which may adversely affect business operations and financial condition of the Company.
- Any failure to protect or enforce the rights to own or use the company trademark could have an adverse effect on its business and competitive position.
- The company ability to pay dividends in the future will depend upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in the financing arrangements.
- Any future issuance of Equity Shares may dilute your shareholdings, and sale of the Equity Shares by the company major shareholders may adversely affect the trading price of the Equity Shares.
- The company Equity Shares have never been publicly traded, and, after the Issue, the Equity Shares may experience price and volume fluctuations, and an active trading market for the Equity Shares may not develop. The Issue Price of the Equity Shares, price to earnings ratio, enterprise value to EBITDA ratio and market capitalization to revenue from operations ratio may not be indicative of the market price of the Equity Shares on listing or thereafter.
- The Issue Price of the company Equity Shares may not be indicative of the market price of the Equity Shares after the Issue and the market price of the Equity Shares may decline below the Issue Price and you may not be able to sell your Equity Shares at or above the Issue Price.
- Managing employee benefit pressures in India may prevent its from sustaining the company competitive advantage which could adversely affect its business prospects and future financial performance.
- The requirements of being a public listed company may strain its resources and impose additional requirements.
- The Promoter has provided guarantees of his personal assets for loan facilities obtained by the Company, and any failure or default by the Company to repay such loans in accordance with the terms and conditions of the financing documents could trigger repayment obligations on them, which may impact their ability to effectively service their obligations as the Promoter and thereby, impact its business and operations.
- Certain data mentioned in this Draft Prospectus has not been independently verified.
- The company growth and its financial results may be affected by factors affecting the logistics industry in India.
- Focus on Increase in Volume of Sales.
- Reduction of operational costs and achieving efficiency.
- Leverage and enhance its goodwill in the market.
Marinetrans India Ltd IPO Promoter Holding
|Pre Issue Share Holding
|Post Issue Share Holding
Marinetrans India Ltd IPO Subscription Status (Bidding Detail)
The Marinetrans India Ltd IPO is subscribed - times on Dec 05, 2023 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)
Marinetrans India Ltd IPO Prospectus
Marinetrans India Ltd IPO Listing Date
|08 Dec 23
|NSE - SME
Marinetrans India Ltd IPO Registrar
Skyline Financial Services Pvt
Marinetrans India Ltd IPO Lead Manager(s)
- Swaraj Shares & Securities Pvt Ltd
FAQs on Marinetrans India Ltd IPO
Marinetrans India Ltd IPO, which opens for subscription from 30-Nov-2023 to 05-Dec-2023 has an issue size of ₹10.92 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 Marinetrans India Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.
Marinetrans India Ltd IPO Opens for subscription from 30-Nov-2023 to 05-Dec-2023.
The lot size of Marinetrans India Ltd is 4000 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹104000 and ₹104000 respectively.
Allotment date for Marinetrans India Ltd is 08-Dec-2023 and refund of application amount (in case allotment is not received) will begin from 11-Dec-2023. If your allotment goes through, then shares will be credited in your Demat account by 10-Dec-2023.
The registrar for Marinetrans India Ltd IPO is Skyline Financial Services Pvt. You can check your IPO allotment status on the registrar's website.
The shares of Marinetrans India Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).