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    ABS Marine Services IPO: All you need to know before subscribing to the issue

    Synopsis

    ABS Marine Services IPO: The company is targeting to raise approximately Rs 96.5 crore through the SME IPO and plans to list the shares on the NSE SME platform. Here are 10 important details investors should understand before deciding to subscribe to the public offer.

    ABS Marine Services IPO: All you need to know before subscribing to the issue
    The SME IPO of ABS Marine Services opened for subscription today and will close on May 15. The company aims to raise about Rs 96.5 crore through the SME IPO and list the shares on NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.

    1) About ABS Marine Services
    ABS Marine Services is a fully integrated company with in-house complete vessel management including commercial management. It provides crew management services to ships comprising oil tankers, gas tankers, bulk carriers, passenger vessels, offshore support vessels, harbour crafts and high speed crafts.

    2) Industry overview
    India is strategically located on the world’s shipping routes with a coastline of approximately 7,517 km. As of 2021, the country owns over 30% global market share in the ship breaking industry and is home to the largest ship-breaking facility in the world at Alang.

    3) ABS Marine Services IPO size
    The IPO is entirely a fresh equity issue of 65.5 lakh shares and through the issue, the company aims to raise nearly Rs 96.3 crore.

    4) ABS Marine Services IPO price band
    The company is offering its shares at Rs 140-147 apiece, and investors can bid for 1000 shares in 1 lot.

    5) ABS Marine Services IPO financial performance
    For the period ended March 2024, the company clocked revenues of Rs 135 crore and net profit of Rs 23.55 crore.

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    6) Objects of the offer
    The net proceeds from the public offer will be used for purchase of software, to meet working capital requirements and other general corporate purposes.

    7) Lead managers and Registrar
    GYR Capital is acting as the lead manager to the issue and Purva Sharegistry India is the registrar.

    8) Issue structure
    About 50% of the offer is reserved for QIB investors and the rest 35% for retail investors and the rest 15% for non-retail investors.

    9) Important dates
    The IPO opened on May 10 and will close on May 15. The final allotment will likely be made on May 16. The company's shares will likely get listed on May 21.

    10) AB Marine Services GMP
    Ahead of the issue opening, the company's shares are trading with a GMP of Rs 60 in the unlisted market.


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    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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