ABS Marine Services Skyrockets, Debuts at Double the Issue Price of ₹294!

ABS Marine Services debuted on the NSE SME at ₹294, a 100% premium over the issue price of ₹147, reflecting strong market reception and investor confidence on its opening day.
ABS Marine Services Skyrockets, Debuts at Double the Issue Price of ₹294!

ABS Marine Services made a remarkable debut on the NSE SME, listing at ₹294, double its issue price of ₹147. This strong opening reflects a 100% premium, showcasing tremendous market reception and investor confidence on its first trading day.

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The ABS Marine Services IPO closed with overwhelming demand, achieving a subscription rate of over 144 times. The retail segment, in particular, attracted significant interest, with subscriptions reaching nearly 110 times the available shares by the final day.

ABS Marine Services, headed by Capt. P B Narayanan manages a diverse fleet of 5 owned and 12 managed vessels, plus provides crew for 24 ships, including oil tankers and passenger vessels. The company handles all vessel management in-house, serving government, industrial, and private sectors, with ten key contracts making up 23.50% of their revenue.

ABS Marine Services Limited aims to use IPO proceeds for acquiring offshore vessels and funding working capital. They plan to allocate ₹5500 lakhs for vessel acquisition and ₹2500 lakhs for operational needs, with remaining funds for general corporate purposes.

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Share Market Opening रिकॉर्ड ऊंचाई पर खुला बाजार, सेंसेक्स-निफ्टी अबतक की ऑल टाइम हाई पर!

Share Market Opening: रिकॉर्ड ऊंचाई पर खुला बाजार, सेंसेक्स-निफ्टी अबतक की ऑल टाइम हाई पर!

सकारात्मक वैश्विक रुझानों और मजबूत विदेशी निवेश के चलते सेंसेक्स और निफ्टी ने बढ़त के साथ शुरुआत करते हुए नई ऊंचाई को छुआ। सेंसेक्स में 242.08 अंकों की बढ़त हुई, जबकि निफ्टी में 71.90 अंकों की बढ़त हुई।

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