Sadhav Shipping IPO Listing


Sadhav Shipping, a company with a rich history dating back to its establishment in 1996, recently made a remarkable entry onto the SME platform of the National Stock Exchange (NSE).

The company’s Initial Public Offering (IPO) garnered significant attention from investors, resulting in an overwhelming subscription rate of more than 135 times the offered shares.

The IPO, which featured shares issued at a price of Rs 95, witnessed a substantial listing gain as the entry on the NSE SME occurred at Rs 135 per share, translating to a remarkable 42 percent increase for IPO investors.

Following the listing, Sadhav Shipping’s shares experienced a noteworthy surge, reaching the upper circuit at Rs 141.75.

The closing price on the first day marked a 49.21 percent profit for IPO investors. This strong market response is a testament to the confidence investors have in Sadhav Shipping’s prospects.

The IPO, raising a total of Rs 38.18 crore, was open for subscription from February 23 to 27. Investors, recognizing the company’s potential, oversubscribed the offering, with retail investors showing particular interest by filling 65.52 times the allocated shares.

The funds generated through the IPO will serve various purposes, including loan repayment, acquiring boats and vessels, meeting increased working capital requirements, and supporting general corporate activities.

Sadhav Shipping operates primarily in three segments—offshore logistics, port services, and oil spill response.

The company provides high-speed security boats for patrol services, engages in oil and gas exploration in offshore fields, and offers Tier 1 oil spill response equipment to ports.

With a fleet of 24 ships, including 19 owned by the company, Sadhav Shipping has established itself as a significant player in the maritime industry.

Analyzing the financial performance of the company, it reported a net profit of Rs 3.31 crore in the financial year 2021, followed by a slight dip to Rs 3.01 crore in 2022.

However, the subsequent financial year, 2023, witnessed a substantial rebound, with the net profit soaring to Rs 7.75 crore.

During this period, the company’s revenue demonstrated a compound annual growth rate (CAGR) of over 13 percent, reaching Rs 78.91 crore.

In the current financial year 2023-24, for the first half of April-September 2023, Sadhav Shipping achieved a net profit of Rs 4.01 crore and a revenue of Rs 33.86 crore, showcasing a positive trend in its financial performance.


Sadhav Shipping IPO Listing: Stock lists at 42% premium to IPO price on NSE SME