ABS Marine Services would soon open its bidding for an IPO on 10 May 2024. Interested investors can check the latest GMP trend of the ABS shares in the market along with relevant details of the upcoming IPO in the article below, so keep reading, investors!
ABS Marine Services IPO GMP
The GMP trends indicated the demand for shares in the unofficial grey market before the listing. According to the latest update, the ABS Marines Services’ upcoming IPO’s latest GMP premium is ₹40 after the three sessions. The trading of the ABS shares began on 6 May 2024 in the grey market.Â
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The estimated listing price of the ABS Marine Services IPO is ₹187 with a 27.21% expected percentage of loss/gain per share when the IPO price is 147. The following table shows the day-wise ABS Marine Services IPO GMP trend of the last three sessions:
| GMP Date | IPO Price | GMP | Subject to Sauda | Estimated Listing Price |
| 8 May 2024 | 147 | ₹40 | 30400 | ₹187 |
| 7 May 2024 | 147 | ₹40↑ | 30400 | ₹187 |
| 6 May 2024 | 147 | ₹13↑ | 9900 | ₹160 |
 The GMP positive trends indicate the premium investors are showing interest in paying for the IPO shares of the ABS Marine Services IPO. Investors must reflect on other aspects as well before making the investment decision.Â
ABS Marine Services IPO TimelineÂ
The ABS Marine services will close IPO subscriptions on 15 May 2024. The investors can expect the commencement of IPO allotment on 16 May 2024. The company will initiate the refund for the subscribed shares that did not get shares allotted during the IPO allotment on 17 May 2024.Â
The company plans to list the shares after the IPO issue on the NSE SME platform on 21 May 2024. Investors can mark the ABS Marine Services timeline in their calendars to stay aware of the IPO events:
| Dates | ABS Marine Services IPO Event |
| 10 May 2024 | IPO Opening Date |
| 15 May 2024 | IPO Closing Date |
| 16 May 2024 | IPO Allotment |
| 17 May 2024 | Refunds Initiation |
| 21 May 2024 | IPO Listing Date |
| 15 May 2024 | UPI mandate confirmation |
ABS Marine Services IPO DetailsÂ
The book-built IPO issue of ABS Marine Services contains 65,50,000 equity shares with a face value of ₹10 per equity share. The company plans to raise ₹96.29 crore through the IPO issue.Â
The price band or flower price determined by the company in consultation with the book-running lead manager is fixed at ₹140 to ₹147 per equity share. The minimum lot size for the application contains 1000 shares.Â
The registrar of the ABS Marine Services IPO is Purva Sharegistry India Pvt. Ltd., and the book-running Lead Manager is GYR Capital Advisors Pvt. Ltd.Â
Giriraj Stock Broking and Commodity Mandi, the market maker of the ABS Marine IPO, holds 410,000 shares (6.25%) of the IPO shares. The promoters of the company Arathi Narayanan, Capt. P B Narayanan, Capt. Jeevan Krishnan Sanjeevan and Shreelatha Narayan held 86.50% of the shares before the IPO issue, which will be diluted to 63.42% after the IPO issue.Â
ABS Marine Services, the offshore vessels managing company, aims to utilize the IPO funds in acquiring offshore vessels, meet the capital requirements of the company, and fulfill the general corporate purpose of the company.Â
| Company | ABS Marine Services Limited |
| IPO Type | Book-built Issue |
| IPO issue Size | 6,550,000 equity shares (matches up to ₹96.29 Crore) |
| Face Value | ₹10 per equity share |
| Price Band | ₹140 to ₹147 per equity share |
| Lot Size | 1000 shares |
| Fresh Issue | 6,550,000 equity shares (matches up to ₹96.29 Crore)) |
| OFS | Nil |
| Listing at | NSE SME |
| Market Maker portions | 410,000 shares (6.25%) |
ABS Marine Services IPO Reservation and Lot Size
The ABS Marine Services Limited has reserved shares offered as per the following investor category:
| Category | Shares Offered |
| Qualified Institutional buyers (QIB) | Not exceeding 50% of the net issue |
| Retail | At least 35% of the net issue |
| Non-Institutional Investors (HNI) | At least 15% of the net issue |
The investors can apply for the minimal lot size of 1000 shares in one lot. A retail investor would need a minimum investment of ₹147,000 to bid for the IPO shares in one lot. Here’s the distribution of the minimum and maximum investment in lot size as per the investor category:
| Investor category | Lots | Shares | Amount |
| Retail (max.) | 1 | 1000 | ₹147,000 |
| Retail (max.) | 1 | 1000 | ₹147,000 |
| HNI (min.) | 2 | 2000 | ₹294,000 |
ABS Marine Services Limited’s IPO market cap is ₹ 360.88 crore and the company has generated revenue, which is hiked by 21.27% with a 147.22% rise in PAT. Market experts recommend that investors apply for the upcoming ABS Marine Services IPO, so make sure you have done your research before bidding for the IPO.Â