Offshore vessels managing company ABS Marine Services will be launching its initial public offerings (IPO) on May 10. The small and medium enterprise (SME) IPO, which will close for subscription on May 15, has set the price band at ₹140 to ₹147 per share.
ABS Marine Services IPO aims to raise over ₹96.29 crore via fresh issuance of 65.5 lakh shares. Investors have the option to bid for a minimum of 1000 shares and in multiples thereof. The minimum investment amount mandated for retail investors stands at ₹147,000.
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As per ABS Marine Services DRHP, not more than 50 per cent of the issue is reserved for QIB, not less than 35 per cent of the issue is allocated to retail investors and not less than 15 per cent of the issue is reserved for NIIs.
The promoters of the company are Captain P B Narayanan, Shreelatha Narayanan, Arathi Narayanan, and Captain Jeevan Krishnan Sanjeevan.
The allotment of the ABS Marine Services IPO is anticipated to be concluded by Thursday, May 16, 2024. The IPO is scheduled to be listed on the NSE SME platform, with a tentative listing date set for Tuesday, May 21, 2024.
GYR Capital Advisors Private Limited serves as the book running lead manager for the ABS Marine Services IPO, with Purva Sharegistry India Pvt Ltd appointed as the registrar for the issue. Giriraj Stock Broking and Commodity Mandi are designated as the market makers for the ABS Marine Services IPO.
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ABS Marine Services GMP today
The shares of ABS Marine Services are currently not trading in the grey market. This means that the grey market premium (GMP) of ABD Marine Services is ₹0.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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About ABS Marine Services
Established in October 1992, ABS Marine Services Limited oversees offshore vessels and possesses five vessels as of December 31, 2023. Among these are two state-of-the-art offshore vessels tailored for the oil and gas industry, alongside three harbor vessels catering to the Indian port sector.
As of December 31, 2023, the company is responsible for the management of a total of 12 vessels, serving government agencies, public and private entities, as well as port authorities. Additionally, it offers crew management services for an additional 24 vessels, encompassing oil tankers, gas carriers, bulk carriers, passenger ships, and high-speed vessels.
ABS Marine Services Limited witnessed a 21.27% increase in revenue and a notable rise of 147.22% in profit after tax (PAT) for the financial year ended on March 31, 2024.
