Sadhav Shipping IPO: All you need to know about this Rs 38-crore public offer
IPO of Sadhav Shipping opened for subscription earlier on Friday and will close on February 27. The issue was subscribed 59% so far on the first day of the bidding.
Here are 10 key things investors need to know about the public offer before applying.
1) About Sadhav Shipping
Mumbai-based Sadhav Shipping was incorporated in 1996 with an objective to own and operate marine assets to service ports, coastal logistics and other port maritime-related services. Currently, the company owns and operates 24 vessels, including 19 owned vessels and 5 rented vessels, in various sectors of maritime trade in India.
2) Industry overview
In FY22, major ports in India handled 720.29 million tonnes of cargo traffic as compared to 671.82 million tonnes handled during April-March 2020-21. From April 2022 to January 2023, all key ports in India handled a total of 646.10 million tonnes (MT) of cargo traffic.
3) Sadhav Shipping IPO issue size
The IPO is entirely a fresh equity issue of 40.18 lakh shares and through the issue, the company aims to raise Rs 38.18 crore.
4) Sadhav Shipping IPO price band
The company is offering its shares at Rs 95 apiece, and investors can bid for 1,200 shares in 1 lot.
5) Sadhav Shipping IPO financial performance
For the period ended September 2023, the company clocked revenues of Rs 33.68 crore and net profit of Rs 4.06 crore.
6) Objects of the offer
The net proceeds from the public offer will be used for repayment of debt, funding capex, to meet working capital requirements and for general
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