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Business News/ Markets / Ipo/  Sadhav Shipping share price makes a stellar debut, stock opens with 42% premium at 135 apiece on NSE SME
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Sadhav Shipping share price makes a stellar debut, stock opens with 42% premium at ₹135 apiece on NSE SME

Sadhav Shipping share price saw a strong listing on NSE SME at ₹135, up 42.11% from IPO price of ₹95. IPO was open for subscription from Feb 23 to Feb 27 with lot size of 1,200 shares.

Sadhav Shipping share price lists on NSE SME today. (https://www.sadhav.com/)Premium
Sadhav Shipping share price lists on NSE SME today. (https://www.sadhav.com/)

Sadhav Shipping listing date: Sadhav Shipping share price made a stellar debut on NSE SME today. On NSE SME, Sadhav Shipping Ltd share price opened at 135, which is 42.11% higher than the issue price of 95.

Sadhav Shipping IPO opened for subscription on Friday, February 23, and closed on Tuesday, February 27.

Also Read: Sadhav Shipping IPO allotment finalised today; latest GMP, steps to check Sadhav IPO allotment status

Sadhav Shipping IPO price band was set at 95 apiece. Sadhav Shipping IPO lot size consisted of 1,200 shares. Investors could bid for a minimum of 1,200 shares and in multiples thereof.

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In order to support ports, Sadhav Shipping Limited owns and runs maritime assets, handles coastal logistics, and offers additional port-related services. Formerly, the business was called Homa Offshore & Shipping Company Private Limited.

The company's barges are utilised for the lightering or transportation of products in inland and coastal waterway commerce. In addition to operating and managing port crafts, the firm provides patrol services for high-speed security boats.

Between March 31, 2022, and March 31, 2023, Sadhav Shipping Limited's profit after tax (PAT) climbed by 157.68% while its revenue increased by 13.08%.

Also Read: Sadhav Shipping IPO Day 3: Check subscription status, GMP and other key details

Sadhav Shipping IPO details

Sadhav Shipping IPO, which is worth 38.18 crore, comprises a fresh issue of 4,018,800 equity shares with a face value of 10. This is a completely a fresh issue, and there is no offer-for-sale component.

The objective of the net issue is to raise funds for the partial or complete repayment of certain outstanding loans that the firm has taken out. A portion of the capital expenditure needed for general corporate purposes, increased working capital requirements, and the purchase or acquisition of additional boats or vessels.

The Sadhav Shipping IPO's book running lead manager is Isk Advisors Pvt Ltd, while the issue's registrar is Maashitla Securities Private Limited. Sunflower Broking is the market maker for the Sadhav Shipping IPO.

Also Read: Sadhav Shipping Limited IPO: From price band, date to GMP - here are key things to know

Sadhav Shipping IPO GMP today

Sadhav Shipping IPO GMP or grey market premium is +30. This indicates Sadhav Shipping share price were trading at a premium of 30 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, Sadhav Shipping IPO expected listing price was 125 apiece, which is 31.58% higher than the IPO price of 95.

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

Also Read: Gopal Snacks IPO: Price band set at 381-401 per share; check issue details, key dates, more

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

 

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Published: 01 Mar 2024, 10:00 AM IST
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