Arvind and Company Shipping Agency to Launch IPO

Arvind and Company Shipping Agency to Launch IPO
Arvind and Company Shipping Agency to Launch IPO
Arvind and Company Shipping Agency to Launch IPO
Arvind and Company Shipping Agency to Launch IPO

Arvind and Company Shipping Agency to Launch IPO

Arvind and Company Shipping Agency to Launch IPO

Arvind and Company Shipping Agency to Launch IPO

  • IPO Set to Open on October 12, 2023
  • Aims to Raise ₹14.74 Crore
  • IPO Price Fixed at ₹45 per Share
  • Listing on NSE SME Emerge Platform
  • Company Engaged in Barge Chartering and Hospitality Sector

Arvind and Company Shipping Agency Limited, a prominent player in the chartering business, is gearing up to launch its initial public offering (IPO). The IPO is scheduled to open for bidding on October 12, 2023, and will run until October 16, 2023. The company is aiming to raise ₹14.74 crore through this public issue.

Strategic Move to Seize Market Opportunities

The IPO is being offered at a fixed price of ₹45 per equity share, making it an attractive option for a wide range of investors. Arvind and Company Shipping Agency’s shares will be listed on the NSE SME Emerge platform, known for nurturing the growth of small and medium enterprises. The allotment date is expected to be on October 17th or 18th, with official trading commencing on October 19th, 2023.

Insight into the Company’s Operations

Arvind and Company Shipping Agency is known for its robust business model, primarily focused on chartering barges for commercial purposes. The company boasts a fleet of five barges and offers tailored barge chartering services to meet the specific needs of its clients. Its clientele primarily consists of construction firms that require barges for transporting heavy equipment, construction materials, and personnel to and from construction sites located near water bodies. Additionally, the company’s barges play a crucial role in transporting materials like sand, gravel, cement, steel, or machinery to support various construction projects.

Apart from its chartering business, the company has recently diversified its portfolio by entering the hospitality sector. It currently owns two hotels, namely Hotel Millennium Plaza and Hotel 999, both located in the bustling city of Jamnagar, Gujarat.

Utilization of IPO Proceeds

The proceeds generated from the IPO will be strategically allocated to support the company’s expansion plans. These funds will be directed towards capital expenditure, covering the expenses of the public issue, and fulfilling general corporate requirements. This capital injection is expected to enhance the company’s operational capabilities and position it for accelerated growth.

Investment Details for Potential Shareholders

Retail investors interested in this opportunity should note that the minimum lot size for the IPO is 3000 shares, requiring a minimum investment of ₹1,35,000. For the fiscal year 2023, the IPO valuation reveals an earnings per share (EPS) of ₹4.62, a price-to-earnings (P/E) ratio of 4.62, a return on net worth (RoNW) of 46.88%, and a net asset value (NAV) of ₹12.17 per equity share. The IPO registrar is Skyline Financial Services Pvt Ltd, with Beeline Capital Advisors Pvt Ltd serving as the lead manager.

This IPO marks a significant milestone in Arvind and Company Shipping Agency’s journey, providing potential investors with an opportunity to participate in its future growth story.

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