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


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

  1. 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.
  2. 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.
  3. 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:

  1. Paying back or fully settling some of the loans that their company currently owes.
  2. Allocating funds to buy more boats or vessels as part of their capital investments.
  3. Meeting the need for more working capital.
  4. Spending on various unspecified business activities.

Peer Details

The following is a listed peer company of Sadhav Shipping Limited in India:

  1. Seamec Limited
  2. Knowledge Marine & Engineering Limited
  3. 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


  1. 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.

  2. 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.

  3. 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.


  1. Sadhav Shipping Limited may face disruptions from accidents, risking lives, property and causing operational losses.

  2. The company has had compliance issues under the Companies Act and related laws in the past three years, risking penalties and liabilities.

  3. The use of IPO funds relies solely on management's estimates without external validation or oversight, posing a risk of misallocation.

  4. 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.

  • How to Apply in IPO
  • How to Check IPO Allotment Status

Login to Angel One App / Website & click on IPO

Select desired IPO & tap on "Apply"

Enter UPI ID, set quantity/price & submit

Accept mandate on the UPI app to complete the process

Login to Angel One App / Website

Choose IPO section on Home Page

Click IPO Orders

Chose the IPO application you want to view the status for

Sadhav Shipping Limited IPO FAQs

What is Sadhav Shipping Limited's IPO?

Sadhav Shipping Limited IPO is a fresh issue of up to ₹38.18 Crore. It is a fixed-price issue. 

When will Sadhav Shipping Limited's IPO be allotted?

The Sadhav Shipping Limited’s shares will be allotted on February 29, 2024.

When will Sadhav Shipping Limited's IPO open for subscription?

The IPO subscription window for Sadhav Shipping Limited will open on February 23, 2024.

What minimum lot size can retail investors subscribe to?

Retail investors can apply for at least one lot, which is a size of 1,200 shares, with a sum of ₹1,14,000.

When will Sadhav Shipping Limited list on exchanges?

Sadhav Shipping Limited will be listed on NSE Emerge. The stock will be listed on March 1, 2024.

How do I check the allotment status of Sadhav Shipping Limited?

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.

What would be the listing gains on Sadhav Shipping Limited's IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

I have finished the application process for Sadhav Shipping Limited, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.

How do I approve the UPI mandate request for Sadhav Shipping Limited's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Sadhav Shipping Limited using one PAN?

You can submit only one application using your PAN card.