Sadhav Shipping IPO Day 1: Check subscription status, GMP and other key details

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₹38.18 crores. The issue is entirely a fresh issue of 40.19 lakh shares. The company has set the price band of SME IPO at ₹95 per share, with face value of ₹10 per share.

Investors can bid for a minimum of 1200 shares and in multiples thereof. The minimum amount of investment required by retail investors is ₹114,000. The allotment for the Sadhav Shipping IPO is expected to be finalized on Wednesday, February 28, 2024.

Sadhav Shipping IPO will list on NSE SME with tentative listing date fixed as Friday, March 1, 2024. The SME issue is reserved 50 percent for the retail investors and rest 50 percent for the other investors. The company proposes to utlise the net proceeds towards repayment / prepayment, in part or full of certain outstanding borrowings availed by the company, part funding of capital expenditure to purchase/ acquire additional boats/ vessels, additional working capital requirement, and general corporate purposes.