About
ABS Marine Services Limited is launching its IPO. The offer opens for subscription on 10th May 2024 and will close on May 15th, 2024.
Disclaimer: This stock will trade with a lot size of 1000 shares in the SME segment on listing.
What does ABS Marine Services Limited do?
Originally named as ‘ABS Marine Services Private Limited’, the company was established on October 27, 1992, under the Companies Act, 1956, in Tamil Nadu, India. It later became ‘ABS Marine Services Limited’ after converting to a public company on September 27, 2023. Captain P. B. Narayanan, a veteran with over four decades of experience in the shipping industry, founded the company. Initially managing two offshore vessels, by December 31, 2023, the company owned five vessels, including two advanced offshore vessels and three harbor crafts, while managing twelve additional vessels on behalf of various entities.
They offer comprehensive vessel management services, including crew management, to a diverse range of clients such as the Government of India, public and private sector companies, and port authorities. Additionally, the company has secured strategic contracts, with one significant contract from the Ministry of Earth and Science contributing 23.50% towards their revenue. Their fleet encompasses a variety of vessels, including offshore supply vessels, research vessels, bulk carriers, tankers, passenger vessels, and harbor crafts, all fully owned, chartered-in, managed, and crewed by the company.
Schedule/Timeline of ABS Marine Services Limited IPO
| Issue Period | 10th May to 15th May 2024 |
| Deadline for accepting UPI mandate | Until 5 PM on the issue closing day |
| Finalization of Allotment | May 16, 2024 |
| Initiation of Refunds | May 17, 2024 |
| Credit of Shares | May 17, 2024 |
| Date of Listing | May 21, 2024 |
| Mandate end date | May 30, 2024 |
| Anchor Investors Lock-In End Date (50% of the investment) | June 15, 2024 |
| Anchor Investors Lock-In End Date (Remaining investment) | August 14, 2024 |
Note: Given that the above schedule is tentative, it should be noted that the anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares, and 90 days after for the remaining portion.
How do I apply to the ABS Marine Services Limited IPO?
You can apply for the ABS Marine Services Limited IPO using any supported UPI app by following two steps:
- Enter your bid on Kite
- Accept the UPI mandate on your phone
On acceptance of the mandate, the bid amount will get blocked in your bank account. Click here to learn more.
Where do I check the allotment status for ABS Marine Services Limited IPO?
You can check the allotment status for the ABS Marine Services Limited IPO on the website of the Registrar and Transfer agent.
Alternatively, you can also check the allotment status on the NSE website.