Accuracy Shipping IPO launched on 11th June 2018. The issue size of this IPO is 4,257,600 Equity Shares of Rs 10 aggregating up to Rs 35.76 Crores. The company holds 496,000 equity shares in all, out of which certain shares would be reserved for issue by the market makers. In this article, we have discussed various topics like the Accuracy Shipping IPO offer, IPO price, Accuracy Shipping IPO release date, the company’s financials and background of the promoters.

 


Accuracy Shipping IPO Review & Ratings

Accuracy Shipping Ratings & Review
CriteriaRatings
Industry Sentiments6.3/10
Industry Ranking6.2/10
Company Background6.6/10
Company Reputation6.2/10
Competitive Edge6.3/10
Financial Statements6.5/10
Popularity Index6.6/10
Promoters Reputation6.3/10
Retail Appetite6.4/10
Top Brokers Review6.5/10
Overall Ratings6.3/10 
Star Ratings★★★☆☆

Summary of Accuracy Shipping IPO

Accuracy Shipping IPOAccuracy Shipping, established in 2008, is a third party that offers customized and end to end logistics solutions and services including transportation and distribution, freight forwarding etc.  The Company is promoted by Vinay Tripathi and Rama Tripathi.

The Promoter Vinay Tripathi has an experience of more than a decade in the logistics industry. Mr. Vinay Tripathi started his career with a job in a logistics company his own venture in logistics industry in the year 2004 with the formation of his proprietorship M/s. Balaji Shipping Agency and thereafter with a focused vision and dedicated commitment he broadened his scope of services and incorporated this Company in the year 2008 to achieve the next level growth. The company operates from Gandhidham and has 5 branch offices and over 1,300 clients as at January 31, 2018.

Accuracy Shipping IPO has to offer 4,257,600 equity shares of face value Rs. 10 each and certain portion of this would be reserved for market makers which implies that the company will offer a certain reduced number of shares to the public. The company is also considering a pre-IPO placement offer. The details of the same have been discussed in the subsequent sections of this article.

The book running lead manager for this IPO is Pantomath capital advisors, based in Mumbai and the registrar to the offer is Link Intime.


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    Accuracy Shipping IPO Date

    The IPO opens on 11th June 2018 & closes on 14th June 2018.

    Accuracy Shipping IPO Subscription

     Subscription
    Day 1 257,600 shares
    Day 2 304,000 shares
    Day 31,256,000 shares
    Day 4 4,262,400 shares
    Day 5 

    Accuracy Shipping IPO Allotment Status

    Once the subscription is completed and the company is done with the allotment procedure, the details of shares allotted will be updated herein.

    Accuracy Shipping IPO Price Band

    The price band of this IPO is Rs.81 to Rs.84 per equity share

    Accuracy Shipping IPO Issue Size

    The Issue Size of IPO is Rs. 35.76 Cr.

    Accuracy Shipping IPO Equity Share Offerings

    4,257,600 Equity Shares of Rs 10 aggregating up to Rs 35.76 Crores.


    Accuracy Shipping Limited – Company Overview

    Accuracy Shipping Limited was incorporated in 2008 and is a third party logistics solutions provider. The services include  – customized end -to-end logistics solutions, services including transportation and distribution, freight forwarding, clearing and forwarding service, custom house clearance, warehousing and other value added services. It also is engaged in handling of project cargo, which is a specialized activity requiring detailed planning and technical expertise. The comprehensive project handling service includes designing and execution of customized solutions tailored to meet specific customer requirements for the transport of high value specialized equipments from one location to another using multiple modes of transport. As a multimodal transport operator, it offers end – to – end freight services for export and import cargo utilizing multiple modes of transport such as sea, road, rail and air.

     Accuracy Shipping Limited operates business through a PAN India network consisting of a registered office at Gandhidham, 5 branch offices and over 1,300 clients as at January 31, 2018. In addition to using hired fleets, Accuracy Shipping also have a fleet of more than 150 vehicles to meet inland transportation requirements. Their strength of fleets is one of the biggest advantage for business operations. They also have a network of various  business partners providing vehicles, warehouses and other assets and services for their business. At present they are offering services through business partners over more than 35 countries.

    Key Members of Accuracy Shipping Limited:

    • Vinay Trpathi, Managing Director & Chairman
    • Rama Tripathi, Wholetime Director
    • Hemant Shah, Executive Director
    • Jayantiram Choudhary, Independent Director

    Competitive Strengths of Acuracy Shipping Limited:

    • Experienced Management
    • Integrated, end – to – end logistics services
    • Large fleet of owned vehicles ensuring reliable services
    • Diversified customer base across varied industry verticals
    • Geographical presence
    • Existing client relationships

    Business strategy of Accuracy Shipping Limited:

    • Expand geographical reach
    • Increase fleet size
    • Improve and increase operational efficiencies through technology enhancements
    • Continue to diversify revenues from industry verticals such as e-commerce and bulk

    Accuracy Shipping – Financial Statements

    To understand the performance of the company, it is important to review and analyse the key financial figures and indicators of the company. For this purpose, we have collated such details and presented below:

    Assets of the Company

    Assets (in INR & Lakhs)
     Mar’17Mar’16Mar’15Mar’14Mar’13
    Non-Current Asset2,3172,418977257162
    Current Asset3,5081,9771,8071,042359
    Total Asset5,8254,3942,7841,299520

    Revenue & PAT of the Company

    Revenue & Profits (in INR & Lakhs)
     Mar’17Mar’16Mar’15Mar’14Mar’13
    Total Revenue20,12917,07916,1669,7393,065
    Profit after Tax (PAT)196107326227

    Earnings per Equity Share

    Earning per Equity Share (in INR)
     Mar’17Mar’16Mar’15Mar’14Mar’13
    Basic5.446.783.316.442.81
    Diluted5.446.783.316.442.81

    The total revenue has shown growth from Rs. 3,064.89 lacs to Rs. 20,129.20 lakhs, representing a CAGR  of  60.03%. EBITDA has shown growth from Rs. 84.00 lakhs to Rs. 1,124.37 lakhs, representing a CAGR of 91.19%. Profit after tax has shown growth from Rs. a profit of Rs. 26.83 lakhs to a profit of Rs. 195.93 lakhs.


    Accuracy Shipping Promoters

    Accuracy Shipping was promoted by Vinay Tripathi & Rama Tripathi.

    Promoter Interest in the company

    The promoters are interested in the Company to the extent that they have promoted our Company and to the extent of their shareholding and the dividend receivable, if any and other distributions in respect of the Equity Shares held by them. Promoters may also be deemed to be interested in Company to the extent of their shareholding in the group Companies with which the company transacts during the course of its operations.
    Promoters are the Directors and KMP of the Company and may be deemed to be interested to the extent of remuneration and/ or reimbursement of expenses payable to them for services rendered to us in accordance with the provisions of the Companies Act and in terms of the agreements entered into with the Company.

    Promoter Interest in the property of the company

    Promoters do not have any other interest in any property acquired or proposed to be acquired by the Company in a
    period of two years before filing the  prospectus.

    Accuracy Shipping IPO Offer Details or Issue Details

    Issue of Equity SharesUpto 4,257,600 Equity Shares of face value of Rs. 10/- each fully paid up of the Company for cash at a price of Rs. 81-84/- per Equity share aggregating to Rs 35.76 Crores.
    Consisting of:
    A) Issue reserved for market makers [●] Equity Shares of face value of Rs. 10/- each fully paid up of the Company for cash at a price of Rs. [●]/- per Equity share aggregating to Rs. [●] Lakhs.
    B) Net issue to the public [●] Equity Shares of face value of Rs. 10/- each.
    Of which:
    QIB Portion2,019,192 Equity Shares shall be available for allocation of face value of Rs. 10/- each
    Of which:
    Anchor Investor Portion[●] Equity Shares of face value of Rs 10/- each
    Balance  available  for  allocation  to
    QIBs  other  than  Anchor  Investors
    (assuming  Anchor  Investor  portion
    is fully subscribed)
    [●] Equity Shares of face value of Rs 10/- each
    Of which:
    Available  for  allocation  to  Mutual
    Funds only (5% of the QIB Portion
    (excluding Anchor Investor)
    [●] Equity Shares of face value of Rs 10/- each
    Balance    of    all    QIBs    including
    Mutual Funds
    [●] Equity Shares of face value of Rs 10/- each
    Retail portion[●] Equity Shares of face value of Rs. 10/- each fully paid of the Company at a cash price of Rs. [●]/-per  Equity  share aggregating Rs. [●] Lakhs will be available for allocation to Investors up to Rs. 2.00 Lakhs
    Non-Institutional Portion[●] Equity Shares of face value of Rs. 10/- each fully paid of the Company at a cash price of Rs. [●]/-per  Equity  share aggregating Rs. [●] Lakhs will be available for allocation to Investors above Rs. 2.00 Lakhs
    Pre and Post-Issue Equity Shares
    Equity Shares outstanding prior to this Offer101,20,000 Equity Shares of Rs. 10/- each
    Equity Shares outstanding after this Offer[●] Equity Shares of face value of Rs 10/- each

     


    Accuracy Shipping IPO Issue Object

    The objective of raising funds from this IPO are:

    • Part repayment/prepayment of certain secured borrowings availed by our Company
    • Purchase of goods transportation vehicle
    • Funding the working capital requirements of the Company
    • General corporate purposes

    List of Upcoming IPOs in 2018


    Accuracy Shipping IPO – Basis of the Offer Price

    The Issue Price will be determined by the Company in consultation with the BRLM on the basis of an assessment of market demand for the Equity Shares through the Book Building Process and on the basis of the below discussed qualitative and quantitative factors.
    Qualitative factors influencing the offer price:
    • Experienced Management
    • Integrated, end – to – end logistics services
    • Large fleet of owned vehicles ensuring reliable services
    • Diversified customer base across varied industry verticals
    • Geographical presence
    • Existing client relationships

    Quantitative factors influencing the offer price:

    • Earning per share – The weighted average EPS for the latest 3 years is Rs. 5.53 and for FY 16-17 the EPS is Rs. 5.44
    • Price/earning ratio – PE ratio is one of the key indicators used for analysing the performance of a company. Also, the same can be derived once the price of the share is decided.
    • Return on Net Worth – The RoNW for FY 16-17 is 14.68% and the weighted average RoNW is 16.27%.
    • Net Asset Value – NAV per Equity Share – The net asset value per equity share as on 31 March 2017 is Rs. 14.83
    • Comparison of Accounting ratios with Industry peers – The peer group includes Tiger logistics, Allcargo Logistics, Sical Logistics and Total Transport.

    List of Latest IPOs of 2018


    Accuracy Shipping IPO Lead Managers

    Lead Managers
    Pantomath Capital Advisors Private Limited

    Accuracy Shipping IPO Registrar to offer

    Registrar of the Offer
    Link Intime India Private Limited

    Accuracy Shipping IPO Review by Top 10 Stock Brokers

    Top Stock Brokers ReviewCompany Repu-tationCompe-titive EdgeFinan-cial State-mentPopu-larity IndexPromo-ters Repu-tation
    Angel Broking6.3/106.4/106.5/106.6/106.3/10
    Sharekhan6.4/106.3/106.2/106.5/106.3/10
    Kotak Securities6.5/106.3/106.5/106.3/106.4/10
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    Zerodha6.4/106.3/106.2/106.3/106.4/10
    5Paisa6.3/106.5/106.3/106.2/106.2/10
    Karvy6.4/106.3/106.4/106.4/106.1/10
    Motilal Oswal6.2/106.4/106.5/106.5/106.3/10

     Accuracy Shipping IPO Grey Market Premium

    Grey market opens a fortnight before release of an IPO, accordingly, there is stil quite a lot of time for Accuracy Shipping IPO grey market to open. Once the market is open, the grey market premium and the kostak rates would be updated herein.


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