Sadhav Shipping Limited intends to utilise the proceeds of the issue to purchase additional vessels to cater to its business requirements.
New Delhi: Sadhav Shipping Limited (SSL), key player in varied segments of the Indian Maritime domain, on Tuesday said that it plans to come out with its Initial Public Offering (IPO) on 23 February. The Sadhav Shipping Limited comprising 40,18,800 equity shares will come with face value of Rs 10 each for cash at a premium of Rs 85, aggregating to Rs 38.18-crore.
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The company intends to utilise the proceeds of the issue to purchase additional vessels to cater to its business requirements.
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Here are key points about Sadhav Shipping Limited IPO
– Sadhav Shipping Limited IPO opens for public subscription on Friday, February 23, 2024. The IPO will close on Tuesday, February 27, 2024.
– Sadhav Shipping Limited IPO issue price fixed at Rs 95.
– The retail quota comprises 50 per cent of the net issue.
– Market Makers have reserved 2,02,800 equity shares, leaving a net issue of 38,16,000 shares to the public.
– The Issue and Net Issue constitute 28% and 26.59%, respectively, of the post-issue paid-up equity share capital.
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For the financial year ended March 31, 2023, the company clocked a Profit After Tax (PAT) of Rs 7.75-crore on a revenue of Rs 77.81-crore. For the financial year ended March 31, 2022, the company had clocked a revenue of Rs 69.55-crore. As of September 2023, the company has earned a PAT of Rs 4.07 crore on a revenue of Rs 33.69 crore for FY 24.
