Sadhav Shipping IPO allotment: Here's how you can check status

The allotment of the SME IPO of Sadhav Shipping will be finalised later today. On the allotment date, investors get to know about the number of shares allotted to them as against the bids made.

Investors can check the status of Sadhav Shipping IPO allotment by logging in to the official website of the registrar, which is Maashitla Securities in this case.

Follow the step by step process mentioned below to check the status of allotment.


Step 1: Visit the IPO Allotment Status page on Maashitla Securities website

Step 2: Select IPO from the dropdown

Step 3: Put Application number and enter captcha and 'Submit'.

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Sadhav Shipping IPO GMP

In the unlisted market, the company's shares are trading with a premium of Rs 32 in the unlisted market as against an offer price of Rs 95. The tentative listing date is set as March 1.

The Rs 38 crore SME IPO of Sadhav Shipping received robust response from investors with an overall subscription of 135 times at close.

The net proceeds from the public offer will be used for repayment of debt, funding capex, working capital requirements and general corporate purposes.

Mumbai-based Sadhav Shipping was incorporated in 1996 with an objective to own and operate marine assets to service ports, coastal logistics and other port maritime related services. Currently, the company owns and operates 24 vessels that includes 19 owned vessels and 5 rented vessels, in various sectors of maritime trade in India.

In FY22, major ports in India handled 720.29 million tonnes of cargo traffic as compared to 671.82 million tonnes cargo handled during April-March 2020-21.

For the period ended September 2023, the company clocked revenues of Rs 33.68 crore and net profit of Rs 4.06 crore.

ISK Advisors is acting as the lead manager to the issue and Maashitla Securities is the registrar.

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