Sadhav Shipping Sets Sail on NSE SME with Stellar 42% Surge in Opening Share Price

Sadhav Shipping's shares soared 42.11% in their NSE SME debut, opening at ₹135, significantly above the ₹95 IPO price, with a minimum bid lot size of 1,200 shares.
Sadhav IPO Rockets 42 Percent Hits Rs 135 on Debut

Sadhav Shipping Ltd. experienced a remarkable debut on the NSE SME, with its stock opening at ₹135 per share, a substantial 42.11% increase from its IPO price of ₹95. The IPO, open from February 23 to 27, had a lot size of 1,200 shares, allowing bids for at least this amount and its multiples.

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Founded in 1996 by Kamal Kant Choudhury, Sadhav Shipping Limited (SSL) has grown under his guidance to operate 24 vessels, specializing in offshore logistics, port services, and oil spill responses in major Indian ports. SSL, known for India’s first Tier 1 Oil Spill Response Facility, serves esteemed clients like ONGC and JSW Ports.

Sadhav Shipping aims to allocate its IPO funds to reduce debt by repaying up to INR 8 crores in loans, invest INR 15.50 crores in acquiring a new Fast Crew Boat for an ONGC contract, and enhance working capital for operational readiness. Surplus funds will be used for general corporate purposes, including strategic growth and partnerships.

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