ABS Marine's IPO issues 67L shares at INR 10 each, raising 96.29cr for vessel acquisition, working capital & corporate purposes.
Open Date : May 10, 2024 Close Date : May 15, 2024 Allotment Date: May 16, 2024 Listing Date: May 21, 2024
IPO Price: INR 140-147 per share Lot Size: 1000 shares Total Issue Size: INR 96.29 crores
ABS Marine Services shows mixed revenue performance: 1. Improved profitability, equity. 2. Declining return on net worth. 3. Increasing total assets, potential growth.
1. BS Marine Services: Steady net profit. 2. Shipping Corporation of India: Significant earnings. 3. Seamec Limited: Lower but consistent net profit.
ABS Marine Services main objective is to secure funds for acquiring offshore vessels and meeting working capital needs, supporting operational growth.
ABS Marine Services risks: 1. Regulatory compliance costs. 2. Tender pricing pressures. 3. Onerous contract terms with PSUs. 4. Aging vessels challenge acquisition/sales.