Sadhav Shipping IPO GMP, Open and Close Date, Lot Size, Reservation 

Sadhav Shipping Limited will launch the IPO on 23 February 2024. The company has announced the IPO details and is all ready for Initial Public Offerings. Investors looking to invest in this well-known manufacturing company for machinery and equipment can read the article further to know about its IPO details.

Sadhav Shipping IPO

Sadhav Shipping is a Mumbai-based manufacturing company that has functioned for 28 years. The journey of Sadhav Shipping started on 16 Aug 1996. Now, it owns marine assets and operates them to serve coastal logistics, ports, and services related to the marine sector. 

The authorized capital of Sadhav Shipping is 490 lakhs and a paid-up capital of 292 lakhs. Currently, the firm owns and manages 24 vessels in various sectors of the Indian maritime. 

Their customer base is quite strong, and they offer services to many prime companies, such as Mumbai Port Authority, New Mangalore Port Authority, JNPA, ONGC Ltd., etc.

Now, the company has announced its initial public offering to raise its public profile. The IPO of Sadhav Shipping will be open for subscription on 23 February 2024, Friday and it will close on 27 February 2024.

The IPO allotment is expected on 28 February, the next day of IPO closement. The refund will initiate on the next day of IPO allotment, 29 February 2024.

The IPO will be listed on NSE SME after the IPO allotment, which is expected on 1 March 2024, Friday.

Date Sadhav Shipping IPO Events
23 February 2024 IPO Subscription Opens
27 February 2024 IPO Closing Date
28 February 2024 IPO allotment Date
29 February 2024 Refund Initiations
1 March 2024 Listing Date

The registrar of the fresh issue of Sadhav Shipping IPO is Maashitla Securities Private Limited. The book-running lead manager is Isk Advisors Pvt Ltd. Sunflower Booking is the market maker of the Sadhav Shipping IPO.

Sadhav Shipping IPO Details

The Sadhav Shipping IPO is expected to raise Rs 38.18 crores with a price band of Rs 95 per equity share and a face value of Rs 10 per share. It is a fresh issue of 40.19 lakh shares, which matches up to 38 crores. The minimum lot size consists of 1200 shares. A retail investor would require a minimum investment of up to Rs 114,00

Company Sadhav Shipping
Issue Size ₹ 38.18 crore
Face value ₹10
Price per share ₹95
Fresh issue 40 lakhs share
OFS NIL
Offer to Public 1,909,000
Lot size 1200
Type of Issue Fixed Price Issue IPO
Listing NSE SME
Market Makers 202,800 shares

The objective of the issue is to raise the working capital, funding capital expenditure to buy additional boat vessels, and other corporate purposes.

Sadhav Shipping IPO GMP

Sadhav Shipping IPO Investors Reservation

The shares offered to the investor category in the Sadhav Shipping IPO are categorized below:

Investor Category Allocated shares
Retail Investors 50%
Other investors 50%

The shares offered to the retail investors are 50% of the net offer and the rest are offered to the rest investors. Sunflower Booking, the market maker of Sadhav Shipping, holds 202, 800 shares.

The promoters of the company are Mrs Sadhana Choudahry, Mr. Subhas Chandra Choudhury, Mr. Kamal Kant Biswanath Choudhury, and Mr. Vedant Kamal Kant Choudhury. Their shareholding before the issue was 96.44%, which will be diluted, and the holdings post-issue will be 69.44%.

Sadhav Shipping IPO Lot Size

 The retail investors can bid in lot 1 of size 1200 shares amounting to 114,000 and the HNI (High Net worth Individuals) can bid in 2 lots of size 24,00 shares at Rs 228,000.

Let’s break the IPO lot size into table to make it clear for you guys:

Investors Lots  Shares Amount
Retail (min) 1 1200 ₹114,000
Retail (max) 1200 ₹ 114,000
HNI (min) 2 2400 ₹ 228,000

Sadhav Shipping GMP

Sadhav Shipping PAT has hiked by 157.68% and its revenue is hiked by 13.08% in the financial year of March 22- March 23.

The shares of the company are presently not available in the grey market, hence the shares of Sadhav Shipping shares are trading at ₹0 in the grey market. The GMP will be available once the IPO opens.

The Sadhav Shipping Company is one of the leading companies in the marine sector of India that owns and operates various marine assets. The company is soon going for IPO, so stay updated to get the latest news related to its IPO. 

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