Marinetrans India IPO opens on November 30, price band set at ₹26 per share

Marinetrans India IPO will open for subscription on Thursday, November 30, and will close on Tuesday, December 5. Marinetrans IPO 's price band is set at ₹26. Investors can bid for a minimum of 4000 shares and in multiples thereof. The face value of the equity shares is ₹10 each and the issue price is 2.6 times of the face value of the equity shares.

Marinetrans is a sea freight forwarding company. From its start as a goods forwarder, the business later grew to provide door-to-door delivery and third-party logistics (3PL) services to the logistics sector through unofficial agreements with service providers. The company offers a wide range of freight-related and transport management services to its clients, including freight forwarding, which handles both air and sea freight.

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The business has a branch in Ahmedabad, Gujarat, and its headquarters are in Navi Mumbai, Maharashtra. Its main mode of operation for shipping cargo worldwide is through JNPT, Nhava Sheva, Mundra, Kandla, Chennai, Vizag, and other locations in India.

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Arunkumar Narayan Hegde and Tirah Kumar Babu Kotian are the company's promoters.

The company's listed peers are Cargosol Logistics Ltd (with P/E of 8.56), Cargotrans Maritime Ltd (with P/E of 12.54), AllCargo logistics Ltd with P/E of 13.88), and Total Transport Systems Ltd (with P/E of 35.66), as per Red Herring Prospectus (RHP). 

Marinetrans India IPO details 

Marinetrans India IPO, which is worth ₹10.92 crore, is completely a fresh issue of 4,200,000 equity share; there is no offer for sale (OFS) component, according to RHP.

The company plans to use the funds raised to pay for the following in order to meet its working capital needs, cover general corporate expenses, and pay for issue expenses in order to reap the benefits of being listed on the NSE Emerge Platform.

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“Our company believes that listing will enhance our company’s corporate image, brand name and create a public market for its equity shares in India besides unlocking the value of our company. Having a listing on a stock exchange also affords our company increased credibility with the public, having the company indirectly endorsed through having their stock traded on the exchange. It also Improves supplier, investor and customer confidence and improves our standing in the marketplace,” the company said in its RHP. 

The registrar for the Marinetrans India IPO is Skyline Financial Services Private Ltd, and the book running lead manager is Swaraj Shares and Securities Private Limited. Nnm Securities is the market maker for the Marinetrans India IPO.

Marinetrans India IPO dates

Tentatively, Marinetrans India IPO basis of allotment of shares will be finalised on Friday, December 8 and the company will initiate refunds on Monday, December 11, while the shares will be credited to the demat account of allottees on Sunday, December 10. Marinetrans India IPO shares are likely to be listed on NSE SME on Monday, December 11, according to chittorgarh.com. If in case, the company decides to switch to T+3 norm, the dates will get preponed.

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Marinetrans India IPO GMP today

Marinetrans India IPO GMP today or grey market premium was ₹0, which meant shares were trading at their issue price of ₹26 with no premium or discount in the grey market according to topsharebrokers.com

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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