Sadhav Shipping IPO consists of a fresh issue of 40,18,800 shares worth INR 38.18 crores. The company seeks funds for loan repayment, vessel purchase, working capital, and corporate expenses.
Sadhav Shipping SME IPO – Important Details
| Sadhav Shipping IPO Date | February 23, 2024 to February 27, 2024 |
| Sadhav Shipping IPO Listing Date | March 1, 2024 |
| Sadhav Shipping IPO Price | INR 95 per share |
| Sadhav Shipping IPO Lot Size | 1200 Shares |
| Sadhav Shipping IPO Total Issue Size | INR 38.18 crores |
| Sadhav Shipping IPO Basis of Allotment | February 28, 2024 |
| Sadhav Shipping IPO Initiation of Refunds | February 29, 2024 |
| Sadhav Shipping IPO Credit of Shares to Demat | February 29, 2024 |
| Sadhav Shipping IPO Issue Type | Fixed Price Issue |
| Sadhav Shipping IPO Listing At | NSE SME |
Sadhav Shipping Ltd IPO – Company Profile
Sadhav Shipping Limited, founded in 1996 by Kamal Kant Choudhury, operates 24 vessels, offering marine services and logistics in India. Choudhury, a Master Mariner, aims to efficiently serve ports and maritime sectors.
Under Mr. Choudhury’s leadership, SSL expanded shipping and coastal logistics services, serving leading clients like ONGC, Mumbai & Pradip Port Authorities, BARC, SCI, JSW Ports, and others, fostering a solid customer base.
They excel in offshore logistics, port services, and oil spill response with a modern fleet and dedicated crew. Pioneering India’s first Tier 1 Oil Spill Response Facility, operating in major ports, ensuring sustainable growth.
Sadhav Shipping IPO – Fundamental Analysis
Sadhav Shipping Ltd, a prospective IPO candidate, has showcased consistent revenue growth, improved profitability, and enhanced efficiency. Increasing EPS and RoNW present potential investment opportunities, pending thorough analysis.
Revenue Growth:
The company has shown consistent revenue growth over the three years, from ₹6,057.02 lakhs in 2021 to ₹7,780.84 lakhs in 2023. This indicates a positive trend in the company’s sales.
Profitability:
The Profit and Loss After Tax (PAT) has fluctuated, but there’s a notable increase from ₹330.77 lakhs in 2021 to ₹775.44 lakhs in 2023. This suggests improving profitability over time.
Expenses:
While expenses have also increased over the years, the growth rate is slower than revenue, which is a positive sign. It shows the company’s ability to manage costs efficiently.
Return on Net Worth (RoNW):
RoNW is an important metric to assess how effectively the company utilizes its equity to generate profits. There is a significant improvement in RoNW from 10.32% in 2021 to 18.94% in 2023, indicating better efficiency in generating profits relative to shareholders’ equity.
Earnings Per Share (EPS):
Diluted EPS has grown, from ₹3.20 in 2021 to ₹7.50 in 2023. Higher EPS reflects increased profitability on a per-share basis.
Total Assets and Liabilities:
Both total assets and liabilities have increased substantially over the years, indicating company growth. However, assessing whether the increase in liabilities is manageable and whether it’s being used effectively to generate returns is essential.
Net Asset Value (NAV) per Equity Share:
NAV per share provides insight into the company’s intrinsic value. While the figure is not provided for 2021 and 2022, it’s given as ₹39.62 in 2023, which indicates the value of each share if the company were to be liquidated.
Sadhav Shipping Ltd IPO Financial Information
| Particular | As of 31 March 2021 | As of 31 March 2022 | As of 31 March 2023 |
| Revenue (₹ in lakhs) | 6,057.02 | 6,955.33 | 7,780.84 |
| Equity (₹ in lakhs) | 3,205.61 | 3,503.51 | 4,094.46 |
| Expenses (₹ in lakhs) | 5,666.01 | 6,554.77 | 6,901.36 |
| Profit and Loss After Tax (₹ in lakhs) | 330.77 | 300.93 | 775.44 |
| RoNW (%) | 10.32 | 8.59 | 18.94 |
| Diluted EPS only (₹) | 3.20 | 2.91 | 7.50 |
| NAV per Equity Share (₹) | – | – | 39.62 |
| Total Assets (in lakhs) | 6,117.64 | 6,909.44 | 11,628.71 |
| Total Liabilities (in lakhs) | 2,912.03 | 3,405.93 | 7,534.25 |
Sadhav Shipping IPO Peer Comparison
Sadhav Shipping Ltd. stands out with a revenue of ₹7,780.84 lakhs, P/E ratio of 12.67, EPS of ₹7.50, RoNW of 18.94%, and NAV per Equity Share of ₹39.62, showing favorable metrics compared to Seamec Limited and Knowledge Marine.
| Company | Revenue (₹ in lakhs) | Face Value per Equity Share (₹) | P/E Ratio (Times) | EPS (₹) | RoNW (%) | NAV per Equity Share (Basic) (₹) |
| Sadhav Shipping Ltd. | 7780.84 | 10 | 12.67 | 7.50 | 18.94 | 39.62 |
| Seamec Limited | 39,902.41 | 10 | 74.06 | 16.23 | 5.97 | 270.19 |
| Knowledge Marine | 19,472.44 | 10 | 30.9 | 51.5 | 35.58 | 121.2 |
| Garware Marine Industries Limited | 122.43 | 10 | 44.95 | 0.24 | 1.46 | 13.72 |
Sadhav Shipping SME IPO Objective
The main objective of Sadhav Shipping is to use the loan to repay or prepay certain outstanding borrowings, fund capital expenditure for acquiring additional boats/vessels, and meet additional working capital requirements.
- Repayment / Prepayment, in part or whole, of certain outstanding borrowings availed by the company: The company proposes to utilize an estimated amount of up to INR 8 crores from the Net Proceeds towards prepayment or repayment of all or a portion of borrowings availed by the company, aiming to strengthen finances for expansion, tender eligibility, cost reduction, and growth.
- Part funding of Capital Expenditure to Purchase/Acquire additional Boats/ vessels: The company plans to utilize INR 15.50 crores for acquiring a new Fast Crew Boat for an ONGC Ltd. contract, with the remaining funding sourced from a Bank/FI loan and cash accruals.
- Working Capital Requirements: Efficiently managing procurement processes involves advancing service and spare parts payments, reflecting proactive investment, and ensuring operational preparedness.
- General Corporate Purpose: The Company plans to deploy the balance funds towards the general corporate goals, including strategic initiatives, partnerships, joint ventures and acquisitions, and meeting contingencies.
Sadhav Shipping Ltd IPO Risks And Challenges
Sadhav Shipping risk includes legal proceedings diverting management’s focus and impacting financial resources. Operating risks like breakdowns exist despite precautions. Reliance on third-party providers and uncertainties in vessel rental timing pose additional challenges.
- Pending legal proceedings across multiple levels may divert management’s focus, time, and financial resources. Adverse judgments could significantly impact business, financial condition, and operational results, posing challenges to stability and performance.
- Despite preventive measures, their services face operating risks such as vehicle breakdowns or accidents. While no notable incidents have occurred, future occurrences are possible. Reliance on third-party service providers poses additional operational and financial risks.
- Substantial revenue relies on vessel chartering, with potential operational losses from vessel damage. Revenue comes from winning tenders, but non-renewal or termination could idle vessels. Uncertainties in rental timing due to various factors affect operational results.
Sadhav Shipping Limited IPO – Industry & Market Potential
Global crude oil prices have recently stabilized due to Saudi Arabia’s decision to cut production, aiming to reverse the downward trend.
Exports performed well despite global challenges. Slower import growth attributed to reduced crude oil prices and improved expenditure balance. The first-quarter FY2024 data indicates a strengthening Indian economy with low inflation and substantial GST collections.
The Shipping Industry, by nature, is a global industry regulated by various agencies for the safety and security of the ship, crew, and the marine environment.
Sadhav Shipping Limited IPO – Type of Offer
Sadhav Shipping will have a fresh issue of 40,18,800 shares worth INR 38.18 crores. The company seeks funds for loan repayment, vessel purchase, working capital, and corporate expenses.
Sadhav Shipping SME IPO Offer Size
The offer size of Sadhav Shipping is INR 38.18 crores. The company seeks funds for loan repayment, vessel purchase, working capital, and corporate expenses.
Sadhav Shipping SME IPO Allotment Structure
Sadhav Shipping Limited’s IPO allotment structure includes a category for Retail Individual Investors (RII) with investments below ₹2 lakhs, a category for other investors exceeding ₹2 lakhs, and a reservation of 2,02,800 shares for Market Makers.
· Retail Individual Investors (RII): These individual investors apply for shares with a total value of less than Rs.2 lakhs.
·Other than retail individual investors: Such applications where the value exceeds INR 2 lakhs.
· Market Maker Reservation: A certain percentage or number of shares is reserved for market makers. The company has set aside 2,02,800 shares for this purpose.
How to apply for a Sadhav Shipping IPO through Alice Blue?
To apply for the Sadhav Shipping IPO through Alice Blue, you would typically follow these steps:
- Open a Demat and Trading Account: If you don’t have one already, you must open a Demat and trading account with Alice Blue.
- Check for IPO Details: Once your account is active, you can check for the Sadhav Shipping IPO details in the IPO section of the Alice Blue platform.
- Place the Bid: Enter the number of shares you wish to buy and place your bid within the IPO’s price band.
- Submit the Application: Confirm all your details and submit your application.
You can apply for the Sadhav Shipping IPO at Alice Blue in just a few clicks!
Check Allotment Status: After the allotment process, you can check the allotment status to see if you have received any shares.
Please note that the allotment of shares is not guaranteed and will depend on the demand for the IPO.
How to check Sadhav Shipping IPO Allotment Status on Alice Blue?
Checking the allotment status of an IPO in Alice Blue is usually straightforward. Please follow these general steps:
1. Log in to your Alice Blue Account: You can do this through the Alice Blue website or their trading app.
2. Navigate to the Portfolio or IPO Section: This might differ based on the layout of Alice Blue’s platform, but generally, you can find the status of your IPO application under the ‘Portfolio’ or ‘IPO’ section.
3. Find the IPO Allotment Status: Look for a sub-section called ‘IPO Allotment Status’ or something similar. This is where you can see the status of the IPOs you have applied for.
4. Select the Sadhav Shipping IPO: If you have applied for multiple IPOs, there might be a dropdown menu or a list where you can select the IPO you are interested in. Select the Sadhav Shipping IPO.
5. Check the Status: The status of your application should be displayed here. If the shares have been allocated to you, it would be mentioned here.
If you face any issues, it’s recommended that you contact Alice Blue’s customer support for detailed assistance.
Apart from Alice Blue, there are other ways to check the allotment status of the Sadhav Shipping IPO:
● Registrar’s Website: Visit the website of Maashitla Securities Private Limited, the registrar of the Sadhav Shipping IPO. On the homepage, look for the ‘IPO Allotment Status’ option. You must enter your PAN, application, or Demat account number to check your allotment status. Click on the ‘Submit’ button to view your IPO allotment status.
● NSE SME: You can also check the allotment status on the official websites of the National Stock Exchange (NSE) SME (Small Medium Enterprise) Platform. You would need your application number and PAN to check the status.
Please note that the allotment status will only be available after completing the allotment process, a few days after the IPO window closes.
Sadhav Shipping Limited IPO Offer Registrar
The registrar for the Sadhav Shipping Limited IPO is Maashitla Securities Private Limited. They are responsible for ensuring the IPO allotment and refund processes are carried out smoothly.
Contact information for the registrar:
451, Krishna Apra Business Square,
Netaji Subhash Place,
Pitampura, Delhi – 110034
Tel No.: +91-11-45121795-96
Email: [email protected]
Website: https://maashitla.com/
Sadhav Shipping IPO FAQs
The allotment date of the Sadhav Shipping IPO is February 28, 2024.
The price band of the company is INR 95 per share.
Sadhav Shipping IPO consists of a fresh issue of 40,18,800 shares worth INR 38.18 crores. The company seeks funds for loan repayment, vessel purchase, working capital, and corporate expenses.
The listing date of the Sadhav Shipping IPO is March 1, 2024.
