by Sandip Das on 23 February 2024, 4 min read
Sadhav Shipping, a marine assets service and operating company, launched its initial public offerings (IPO) on February 23, 2024. The small and medium enterprise (SME) IPO will close on February 27, 2024. The company has set the price band of the upcoming SME IPO at Rs 95 per share, with a face value of Rs 10 per share. Investors can bid for a minimum of 1,200 shares and in multiples thereof. Retail investors need a minimum investment of Rs 1,14,000, while HNI’s minimum lot size investment is 2 lots amounting to Rs 2,28,000.
Sadhav Shipping Limited owns and operates marine assets for servicing ports, coastal logistics, and other port maritime-related services. Formerly known as Homa Offshore & Shipping Company Private Limited, the company possesses barges utilized in coastal and inland waterway shipping for transporting or lightening goods. Additionally, the company operates and manages port crafts, along with providing high-speed security boats for patrol services.
The company has set the price band of the SME IPO at Rs 95 per share.
The IPO is entirely a fresh issue of 40.19 lakh shares.
The company intends to utilize the net proceeds for the repayment and prepayment, either in part or in full, of certain outstanding borrowings availed by the company. This includes partial funding of capital expenditure for the acquisition of additional boats/vessels, meeting additional working capital requirements, and addressing general corporate purposes.
Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment.
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