IPO Launch Date, Evaluation, Pricing, and Allocation Particulars of ABS Marine Services

The IPO details for ABS Marine Services are as follows: The IPO is scheduled to open on April [.] and close on April [.]. ABS Marine Services, a NSE SME IPO, aims to raise ₹[.] crores through the IPO. The price band for the ABS Marine Services IPO will be announced later, with a market lot of [.] shares.

ABS Marine Services was founded by its dedicated promoter, Capt. P B Narayanan, who brings over four decades of extensive experience in the Shipping Industry. The company commenced operations with two offshore vessel management, and as of December 31, 2023, they have expanded their fleet to include five owned vessels. This fleet comprises two advanced offshore vessels serving the Oil & Gas sector and three Harbour Crafts catering to the Indian Ports sector. Additionally, they have one long-term chartered specialized multipurpose offshore vessel dedicated to serving the Oil & Gas Sector. Furthermore, as of December 31, 2023, they are engaged in the total ship management of 12 vessels on behalf of various entities, including the Government, public sector undertakings, private companies, and port authorities. They also provide crew management services to an additional 24 ships, which include Oil Tankers, Gas Tankers, Bulk Carriers, Passenger Vessels, and High-Speed Crafts.

Their diverse fleet consists of fully owned, chartered-in, managed, and crewed vessels, encompassing state-of-the-art DP-2 Multipurpose Offshore Supply Vessels, Anchor Handling Towing Supply Vessels, multi-disciplinary Ocean Research Vessels, Coastal Research Vessels, Fishery Oceanographic Research Vessels, Bulk Carriers, Gas Tankers, Oil Tankers, Passenger Vessels, High-Speed Crafts, and Harbour Crafts. ABS Marine Services operates as a fully integrated company, managing all aspects of vessel management, including commercial management, in-house.

ABS Marine Services IPO Details

IPO Date April [.], 2024
Listing Date April [.], 2024
Face Value ₹10 per share
Price [.] to [.] per share
Lot Size
Total Issue Size 6,700,000 shares (aggregating up to ₹[.] Cr)
Fresh Issue 6,700,000 shares (aggregating up to ₹[.] Cr)
Issue Type Book Built Issue IPO
Listing At NSE SME
Share holding pre issue 18,000,000
Share holding post issue 24,700,000

ABS Marine Services IPO Timeline (Tentative Schedule)

IPO Open Date April 2024
IPO Close Date April 2024
Basis of Allotment April 2024
Refunds April 2024
Credit to Demat Account April 2024
IPO Listing Date April 2024

Key Performance Indicator

KPI Values
ROE 12.62%
ROCE 10.70%
Debt/Equity 0.41
RoNW 12.62%
PAT Margin (%) 21.16%

Objects of the Issue (ABS Marine Services IPO Objectives)

The Company proposes to utilise the Net Proceeds towards funding the following objects 

  • Acquistion of off shore vessel
  • Funding the working capital requirements of the Company; and
  • General corporate purposes.

ABS Marine Services Limited Financial Information (Restated Standalone)

ABS Marine Services Limited’s revenue increased by 37.38% and profit after tax (PAT) rose by 21.25% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended 31 Oct 2023 31 Mar 2023 31 Mar 2022 31 Mar 2021
Assets 17,817.03 17,552.47 16,663.22 18,220.45
Revenue 6,385.48 11,380.78 8,283.98 9,195.45
Profit After Tax 1,401.40 1,021.71 842.66 207.67
Net Worth 10,701.67 9,352.39 8,369.95 7,548.04
Total Borrowing 4,343.02 4,866.29 6,114.77 8,562.05
Amount in ₹ Lakhs

ABS Marine Services Company Financial Report

₹ in Crores
Year Revenue Expense PAT
2021 ₹73.74 ₹70.41 ₹2.50
2022 ₹68.93 ₹58.68 ₹7.77
2023 ₹97.16 ₹86.58 ₹8.00
Oct 2023 ₹53.10 ₹39.39 ₹12.07

Company Promoters

  • Capt. P B Narayanan
  • Shreelatha Narayanan
  • Arathi Narayanan
  • Capt. Jeevan Krishnan Sanjeevan