ABS Marine Services, which manages offshore vessels, will undertake an initial public offering (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-₹147 per share.
ABS Marine Services‘ IPO plans to raise ₹96.29 crore through the selling of 65.5 lakh shares. Investors can bid for a minimum of 1000 shares and multiples thereof. The minimum investment amount for retail investors is ₹147,000.
ABS Marine Services IPO
According to ABS Marine Services’ DRHP, no more than 50% of the issue is reserved for QIBs, no less than 35% for retail investors, and no less than 15% for NIIs.
The company’s promoters are Captain P.B. Narayanan, Shreelatha Narayanan, Arathi Narayanan, and Captain Jeevan Krishnan Sanjeevan.
The ABS Marine Services IPO allotment is expected to end on Thursday, May 16, 2024. The IPO will be placed on the NSE SME platform, with a tentative listing date of Tuesday, May 21, 2024.
ABS Marine Services GMP today
ABS Marine Services’ shares are currently not trading on the gray market. The grey market premium (GMP) for ABD Marine Services is ₹0.
The ‘grey market premium’ reflects investors’ willingness to pay more than the issue price.
About ABS Marine Services
ABS Marine Services Limited, founded in October 1992, handles offshore boats and owns five as of December 31, 2023. Among these are two cutting-edge offshore vessels designed specifically for the oil and gas industry, as well as three harbor vessels catering to the Indian port sector.
As of December 31, 2023, the corporation manages a total of 12 vessels, which serve government agencies, public and private entities, and port authorities. Furthermore, it provides crew management services for an additional 24 boats, including oil tankers, gas carriers, bulk carriers, passenger ships, and high-speed vessels.
ABS Marine Services Limited reported a 21.27% increase in revenue and a 147.22% increase in profit after tax (PAT) for the fiscal year ending March 31, 2024
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