Marinetrans India IPO Set to Open: All You Need to Know

Marinetrans India IPO Set to Open: All You Need to Know

Marinetrans India IPO Set to Open: All You Need to Know

Marinetrans India, a sea freight forwarding company, is launching its Initial Public Offering (IPO) this week, marking a significant step in its growth journey.

The Marinetrans India IPO opens for subscription on Thursday, November 30, and will close on Tuesday, December 5.

Investment Details

Investors can bid for the IPO at a price band set at ₹26 per share, with a minimum bid quantity of 4000 shares and in multiples thereafter. The face value of each share is ₹10, making the issue price 2.6 times the face value.

Company Overview and Services

Marinetrans, headquartered in Navi Mumbai with a branch in Ahmedabad, Gujarat, began as a goods forwarder and expanded to offer comprehensive services, including door-to-door delivery and third-party logistics (3PL), primarily through unofficial agreements with various service providers. The company specializes in both air and sea freight forwarding and operates majorly through ports like JNPT, Nhava Sheva, Mundra, Kandla, Chennai, and Vizag.

IPO Details and Fund Utilization

The Marinetrans India IPO, valued at ₹10.92 crore, comprises entirely of a fresh issue of 4,200,000 equity shares. There is no Offer for Sale (OFS) component. The raised funds are earmarked for working capital needs, general corporate purposes, and to cover issue expenses for listing on the NSE Emerge Platform.

Marinetrans believes that the listing will enhance its corporate image and brand name, creating a public market for its shares. Listing is expected to boost credibility, investor confidence, and the company’s standing in the market.

Peer Comparison and Market Standing

The company’s listed peers include Cargosol Logistics Ltd, Cargotrans Maritime Ltd, AllCargo Logistics Ltd, and Total Transport Systems Ltd, with varying Price-to-Earnings (P/E) ratios as per the Red Herring Prospectus.

Skyline Financial Services Private Ltd is the registrar for the IPO, with Swaraj Shares and Securities Private Limited as the book running lead manager. Nnm Securities will act as the market maker.

Anticipated Timelines and GMP

The tentative schedule for share allotment is set for December 8, with refunds initiated on December 11 and shares credited to allottees’ demat accounts on December 10. Listing on the NSE SME is likely on December 11. The IPO’s Grey Market Premium (GMP) currently stands at ₹0, indicating trading at the issue price with no premium or discount in the grey market.

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