IPO Details
Bidding Dates
23 Feb '24 - 27 Feb '24
Minimum Investment
₹ 1,14,000 / 1 Lot ( 1200 Shares )
Price Range
₹98 - ₹100
Maximum Investment
₹ 1,14,000 / 1 Lot ( 1200 Shares )
Retail Discount
Not Applicable
Issue Size
₹38.18 Cr
Investor category and sub category
Retail Individual Investors | Non-Institutional Investors | Qualified Institutional Buyers (QIB) |IPO Dates
Important dates with respect to IPO allotment and listing
Anchor Date
Feb 22, 2024
Opening Date
Feb 23, 2024
Closing Date
Feb 27, 2024
Basis of Allotment
Feb 28, 2024
Initiation of Refunds
Feb 29, 2024
Credit of Shares to Demat
Feb 29, 2024
Listing Date
Mar 1, 2024
Cut-off time for UPI mandate confirmation
Feb 27, 2024
Sadhav Shipping IPO Subscription Details
| Date | NII | Retail | Total |
|---|---|---|---|
Day 1Feb 23, 2024 |
1.08x | 2.06x | 1.57x |
Day 2Feb 26, 2024 |
5.54x | 13.15x | 9.38x |
Day 3Feb 27, 2024 |
184.58x | 65.52x | 135.69x |
Sadhav Shipping IPO Subscription Status Live
| Investor Category | Subscription (Times) |
|---|---|
| Non-Institutional Buyers | 184.58 |
| Retail Investors | 65.52 |
| Total | 135.69 |
About Sadhav Shipping Limited
Founded in 1996 in Mumbai, Sadhav Shipping Limited (SSL) was established with the goal of managing and utilising marine assets to support port services, coastal logistics, and other maritime-related activities. Currently, SSL manages a fleet of 24 vessels, which includes 19 owned and 5 leased, participating in various aspects of maritime commerce in India.
SSL has seen significant growth and diversification in the shipping and coastal logistics sectors. The company has built a robust clientele, delivering services to prominent entities such as ONGC Ltd., Mumbai Port Authority, Pradip Port Authority, Bhabha Atomic Research Centre, Shipping Corporation of India, New Mangalore Port Authority, Deendayal Port Authority (Kandla/Vadinar), Jawaharlal Nehru Port Authority (JNPA), BPCL, Gujarat Police, and JSW Ports.
SSL pioneered establishing and operating India's first Tier 1 Oil Spill Response Facility Centre based in Mumbai, now operational across major Indian ports. With over 200 officers and crew members as part of its sailing team and backed by experienced shore management, SSL has achieved sustainable growth annually.
The company's operations extend to the coastal and inland waterways, where its barges are engaged in cargo transportation and lighterage. SSL also manages port crafts and provides high-speed security boats for patrolling services, highlighting its comprehensive port services operations.
Industry Outlook
- Between April and October of 2023, major Indian ports processed 463.98 million tonnes (MT) of cargo, showing an increase from the same period in 2022, where 446.50 million tonnes were handled. In the fiscal year 2022, India's exports of goods reached $417.8 billion, marking a significant rise of 40% compared to the year before.
- The 2023 Global Maritime India Summit, recognised as one of the world's most extensive maritime conferences, secured investments totalling ₹10 trillion, marking a significant step toward realising the 'Amrit Kaal Vision 2047', which targets an investment of ₹80 trillion.
- Under the Sagarmala initiative, a comprehensive plan for the development of coastal districts has been laid out, identifying 567 projects at an estimated expense of ₹59,000 crore.
Sadhav Shipping Limited IPO Details
Sadhav Shipping Limited IPO Dates
The IPO of Sadhav Shipping Limited is open for subscription from February 23, 2024, to February 27, 2024.
Sadhav Shipping Limited IPO's Price Band
Sadhav Shipping Limited’s IPO is a fresh issue IPO of up to ₹38.18 crore. It is a book-building issue. The price range is set to ₹95 per share.
Sadhav Shipping Limited IPO's Lot Size
The lot size for Sadhav Shipping Limited’s IPO is 1,200 shares with a minimum investment of ₹1,14,000.
Sadhav Shipping Limited IPO's Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Paying back or fully settling some of the loans that their company currently owes.
- Allocating funds to buy more boats or vessels as part of their capital investments.
- Meeting the need for more working capital.
- Spending on various unspecified business activities.
Peer Details
The following is a listed peer company of Sadhav Shipping Limited in India:
- Seamec Limited
- Knowledge Marine & Engineering Limited
- Garware Marine Industries Limited
How To Check the Allotment Status of Sadhav Shipping Limited’s IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- As such, Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Sadhav Shipping Limited
Registered office: 521 5th Floor, Loha Bhavan, P.D'mello Road, Masjid (East), Mumbai Mh 400009 India
Contact Person: Ms. Madhuri Shrigopal Rathi (Company Secretary and Compliance Officer)
Phone: +91 -22-40003355
E-mail: cs@sadhav.com
IPO Financials
| Particulars | For the period Ended on September 30, 2023 | Year ending on March 31, 2023 | Year ending on March 31, 2022 | Year ending on March 31, 2021 |
|---|---|---|---|---|
| Total Income | 3,385.69 | 7,890.59 | 6,977.94 | 6,123.67 |
| EBITDA Margin (%) | 28.49% | 21.47% | 17.25% | 18.75% |
| Profit After Tax (PAT) | 406.97 | 775.44 | 300.93 | 330.77 |
| PAT Margin (%) | 12.08% | 9.97% | 4.33% | 5.46% |
| Cash & Cash Equivalents | 463.38 | 489.54 | 325.02 | 238.96 |
| Return on Equity (%) | 9.47% | 20.41% | 8.97% | 11.13% |
| Return on Capital Employed (RoCE) (%) | 6.47% | 13.25% | 10.93% | 12.63% |
| Earning Per Share (EPS) in absolute ₹ | 3.94 | 7.50 | 2.91 | 3.20 |
Know before investing
Strengths
3-
The company manages 24 vessels, including 19 owned and 5 leased, across various types and sizes. This diverse fleet undergoes rigorous safety and quality inspections by the in-house technical team and external authorities, ensuring top-notch service offerings.
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Serving primarily AAA-rated clients such as ONGC Ltd., BPCL, and major ports like Mumbai Port, Sadhav Shipping has built strong, long-lasting partnerships based on its commitment to quality and service excellence.
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With the Indian economy on the rise, Sadhav Shipping is poised for growth. The increase in cargo handled by India's major ports — 795 million tons, up 10.10% from the previous year — signals expanding opportunities for the company in line with the country's economic expansion.
Risks
4-
Sadhav Shipping Limited may face disruptions from accidents, risking lives, property and causing operational losses.
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The company has had compliance issues under the Companies Act and related laws in the past three years, risking penalties and liabilities.
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The use of IPO funds relies solely on management's estimates without external validation or oversight, posing a risk of misallocation.
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Without a dedicated external monitoring body, there's a reliance on internal governance to manage and allocate funds effectively, which could pose risks if internal controls are insufficient.
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Sadhav Shipping Limited IPO FAQs
Sadhav Shipping Limited IPO is a fresh issue of up to ₹38.18 Crore. It is a fixed-price issue.
The Sadhav Shipping Limited’s shares will be allotted on February 29, 2024.
The IPO subscription window for Sadhav Shipping Limited will open on February 23, 2024.
Retail investors can apply for at least one lot, which is a size of 1,200 shares, with a sum of ₹1,14,000.
Sadhav Shipping Limited will be listed on NSE Emerge. The stock will be listed on March 1, 2024.
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the IPO Section and then to IPO Orders
- Select the individual IPO that you had applied for and check the allotment status.
- As such, Angel One will notify you of your IPO allotment status via push notification and email.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
