Sadhav Shipping: On March 1, the stock of Sadhav Shipping was listed at a 42.1 percent premium over the IPO price, making a respectable debut. The stock price on the NSE SME platform is RS.95, with an issue price of This. It started at 135
Before the official listing, the shares were trading at a 30 percent premium in the grey market, an unofficial platform where trading begins before IPO allotment and continues until the listing day. Many investors monitor the grey market premium (GMP) closely to gauge the expected listing price.
The robust listing performance was fueled by remarkable subscription figures. The offering saw a subscription of 135 times, with the retail portion being oversubscribed by 65 times between February 23 and February 27. Through a fresh issue of 40.18 lakh shares, the company successfully raised Rs 38.18 crore.
The company’s promoters include Kamal Kant Biswanath Choudhury, Sadhana Choudhury, Vedant Kamal Kant Choudhury, and Subhas Chandra Choudhury. Isk Advisors served as the book-running lead manager, Maashitla Securities acted as the registrar, and Sunflower Broking functioned as the market makers for the issue.
The company intends to utilize the net proceeds from the fresh issue to repay certain outstanding borrowings, partially fund capital expenditures for the acquisition of additional boats and vessels, and support additional working capital needs. Any surplus funds will be directed toward fulfilling general corporate objectives.
Also, read the latest updates: stockeasynow
Sadhav Shipping Limited is the owner and operator of marine assets that support ports, manage coastal logistics, and offer additional port-related maritime services. The company operates 24 ships in different segments of the Indian marine industry, 19 of which are owned and 5 of which are leased.
