Seaways Shipping and Logistics IPO – Review, Allotment, Subscription & GMP
Last Updated Date: Aug 31, 2023Seaways Shipping and Logistics Limited is one of the largest integrated logistics service and solutions providers in India.They also offer complete range of logistics services across the globe. Seaways Shipping and Logistics IPO comprises of a Public Issue of Rs. [●] Equity shares of face value of Rs.10.00 each fully paid up.
Let’s have a detailed review of the company and analytics of the Seaways Shipping and Logistics IPO release date, IPO offer price, subscription, Seaways Shipping and Logistics IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
Seaways Shipping and Logistics IPO Review & Ratings
| Seaways Shipping and Logistics IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 6.3/10 |
| Industry Ranking | 6.3/10 |
| Company Background | 6.1/10 |
| Company Reputation | 6.4/10 |
| Competitive Edge | 6.4/10 |
| Financial Statements | 6.5/10 |
| Popularity Index | 6.2/10 |
| Promoters Reputation | 6.3/10 |
| Retail Appetite | 6.2/10 |
| Top Brokers Review | 6.3/10 |
| Overall Ratings | 6.3/10 |
| Star Ratings | ★★★☆☆ |
Summary of Seaways Shipping and Logistics IPO
Seaways Shipping and Logistics Limited is one of the largest integrated logistics service and solutions providers in India.They also offer complete range of logistics services across the globe. The Issue comprises of a Public Issue of Rs. [●] Equity shares of face value of Rs.10.00 each fully paid up. From which up to 6,445,224 Equity Shares aggregating to Rs. [●] million by Fresh Issue, and Up to [●] Equity Shares aggregating to Rs. 800 million by Offer to Sale.
From FY 2012-13 to FY 2014-2015, as per the Restated Financial Statements,
- For the six months period ended September 30, 2015, on a restated consolidated basis, they generated a total income of Rs. 3,239.23 million, EBITDA from continuing operations of Rs. 170.26 million and PAT from continuing operations of Rs. 45.82 million. For the five fiscal years ended March 31, 2015, on a restated
consolidated basis, their total income and EBITDA from continuing operations grew at a CAGR of 9.02% and
36.30%, respectively. - For Fiscal Years 2015 in September and March, 2014 and 2015, they generated revenue from operations of Rs 3,232.20 million, Rs.7,150.36 million and Rs. 6,936.41 million, Rs. 6,100.88 million respectively.
The Promoters of this company are Capt. Parvataneni Venkata Krishna Mohan, Parvataneni Sarat Kumar and Parvataneni Vivek Anand. The lead manager to the issue is ICICI Securities Limited, IDFC Bank Limited, Karvy Investor Services Limited and the Registrar to this issue is Karvy Computershare Private Limited.
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Seaways Shipping and Logistics IPO Date
The opening and the closing date of IPO of Seaways Shipping and Logistics Limited is not known yet.
Seaways Shipping and Logistics IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
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The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.
Seaways Shipping and Logistics IPO Allotment Status
The Allotment of specified securities to each RII shall not be less than the minimum Bid Lot, subject to availability of shares in the RII category, and the remaining available shares, if any, shall be Allotted on a proportionate basis.The Issuer is required to receive a minimum subscription of 90% of the Offer (excluding any Offer for Sale of specified securities). However, in case the Offer is in the nature of Offer for Sale only, then minimum subscription may not be applicable.
Seaways Shipping and Logistics IPO Price Band
The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed.
Seaways Shipping and Logistics IPO Equity Share Offering
[●] Equity Shares of Rs 10/- each but Issue Price is yet to be disclosed .
Seaways Shipping and Logistics Limited Limited – Company Overview
Seaways Shipping and Logistics Limited Incorporated in the year 2009, Seaways Shipping and Logistics Limited is one of the largest integrated logistics service and solutions providers in India.They also offer complete range of logistics services across the globe.
They categorize their services into:-
i) non-vessel operating common carrier (“NVOCC”);
ii) ocean and air freight forwarding (“Freight Forwarding”);
iii) bulk cargo handling (“Bulk Cargo”);
iv) turnkey and integrated logistics solutions (“Turnkey Projects”) and free trade warehousing zone services (“FTWZ Services”);
v) offshore logistics services (“Offshore Services”).
They also provide services that include container handling, clearing and forwarding, line activities, stevedoring, vessel agency, customs house agency, liner agency, chartering and brokerage, warehousing, distribution and supply chain management, feeder vessel services, port and terminal operations, container freight station operations, and marine surveys and consultancy. They operate an asset light business model and outsource their infrastructure requirements to third parties.
Competitive Strengths of Seaways Shipping and Logistics Limited:
- One of the largest integrated logistics service providers in India.
- Strong and expanding network across the globe.
- Strong and long standing relationships with customers and constituents of logistics value chain.
- Asset light business model.
- System and process driven business operations with strong governance standards, backed by a private equity fund.
- Experience and qualified management team.
Business strategies of Seaways Shipping and Logistics Limited:
- Expansion in different geographies.
- Expand customer base and value added services with a focus on improving profitability
- Focus on cargo diversification.
- Leverage existing customer base and add new customers
Seaways Shipping and Logistics Limited Limited – Financial Statements
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & millions) | |||||
| 31-Sept-15 | 31-Mar-15 | 31-Mar-14 | 31-Mar-13 | 31-Mar-12 | |
| Total Assets | 2,764.22 | 2,855.44 | 1,989.91 | 1,698.50 | 1,819.74 |
| Total Revenue | 3,239.23 | 7,164.84 | 6,958.03 | 6,143.52 | 5,429.78 |
| Total Expense | 3,184.75 | 6,841.22 | 6,776.22 | 6,075.40 | 5,697.93 |
| Profit After Tax | 45.82 | 292.47 | 178.10 | 218.22 | 1.89 |
Earnings per Equity Share (in millions )
| 31-Mar-15 | 31-Mar-14 | 31-Mar-13 | |
| Basic /Diluted | 13.60 | 8.27 | 10.12 |
From the above statements, one could find that the Seaways Shipping and Logistics Limited Limited may perform well.
Seaways Shipping and Logistics IPO – Promoters
The Promoters of this company are:
- Capt. Parvataneni Venkata Krishna Mohan
- Parvataneni Sarat Kumar
- Parvataneni Vivek Anand
List of Related Parties (Key Managerial Personnel)
- Capt. P V K Mohan (Chairman and Managing Director)
- P. Sarat Kumar (Director)
- P. Vivek Anand (Director)
- Murali Krishnaswamy (Chief Financial Officer)
- T V Satish Babu (Company Secretary)
- P Satya Ridhima
- P Vijayendra
Interest in promotion of the Company
Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.
Property Interest
The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.
Interest in Intellectual Rights of the Company
Promoters has not shown any interest in acquiring the intellectual rights of the company.
Seaways Shipping and Logistics IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to [●] Equity Shares for cash at a price of Rs. [●] per Equity Share (including a premium of Rs. [●] per Equity Share) aggregating up to Rs. [●] million. |
| Of which: | |
| 1.Offer to Sale | Up to [●] Equity Shares aggregating to Rs. 800 million |
| 2. Fresh Issue | Up to 6,445,224 Equity Shares aggregating to Rs. [●] million |
| 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 |
| Net Issue to the Public | [●] Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at a price of Rs. [●] /- per share aggregating Rs. [●] Lakhs |
| Of which: | |
| Retail Investors 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-Retail Investors Portion | [●] Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of [●]/- per Equity Share aggregating Rs. [●] lakhs will be available for allocation to investors above Rs. 2.00 Lakhs |
| Equity Shares outstanding prior to the Issue | 21,484,086 Equity Shares of face value of Rs.10 each |
| Equity Shares outstanding after the Issue | [●] Equity Shares of face value of Rs.10 each |
Seaways Shipping and Logistics IPO Issue Object
These are the IPO Issue Objects of the company
- Funding the Working Capital requirements of the Company
- General Corporate Purposes
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| R R Industrial IPO | Sorich Foils IPO | 20 Microns IPO |
Seaways Shipping and Logistics IPO – Basis of the Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- One of the largest integrated logistics services and solutions provider in India;
- Strong and expanding network across the globe;
- Strong and long standing relationships with customers and constituents of logistics value chain;
- Asset light business model;
- System and process driven business operations with strong governance standards, backed by a private equity fund;
- Experience and qualified management team.
The relevant quantitative factors are:
| Basic EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-13 | 10.12 | (314.53) | – |
| 31-Mar-14 | 8.27 | 59.57 | – |
| 31-Mar-15 | 13.60 | 51.87 | 52.43 |
- Industry P/E Ratio:
Not Applicable – There are no listed entities similar to their line of business and comparable to their scale of operations.
- Competitive Peers:
There are no listed entities in India which are similar to their line of business and comparable to their scale of operations.
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| Nazara Technologies IPO | Genius Consultants IPO | Rail Vikas Nigam IPO | Verroc Engineering IPO |
Seaways Shipping and Logistics Industries IPO Lead Managers
| Lead Managers |
| ICICI Securities Limited
IDFC Limited |
Seaways Shipping and Logistics IPO Registrar to offer
| Registrar to the Offer |
| Karvy Computershare Private Limited Karvy Selenium Tower B, Plot 31-32, Gachibowli, Financial District, Nanakramguda, Hyderabad-500 032. Tel: (+91 40) 6716 2222/ 1800 3454 001 (toll free) Fax: (+91 40) 2343 1551 E-mail: einward.ris@karvy.com Investor Grievance E-mail: ssll.ipo@karvy.com Website: www.karisma.karvy.com Contact Person: M Murali Krishna SEBI Registration No.: INR000000221 |
Other Details:
- Statutory Auditor – B S R & Associates LLP, Chartered Accountants
Seaways Shipping and Logistics IPO Review by Top 10 Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 6.5/10 | 6.6/10 | 6.6/10 | 6.4/10 | 6.4/10 |
| Sharekhan | 6.7/10 | 6.4/10 | 6.6/10 | 6.1/10 | 6.2/10 |
| Kotak Securities | 6.7/10 | 6.7/10 | 6.7/10 | 6.4/10 | 6.3/10 |
| ICICI Direct | 6.6/10 | 6.3/10 | 6.7/10 | 6.5/10 | 6.5/10 |
| IIFL | 6.4/10 | 6.7/10 | 6.8/10 | 6.4/10 | 6.7/10 |
| Edelweiss | 6.7/10 | 6.4/10 | 6.4/10 | 6.3/10 | 6.7/10 |
| Zerodha | 6.5/10 | 6.4/10 | 6.7/10 | 6.4/10 | 6.5/10 |
| 5Paisa | 6.7/10 | 6.4/10 | 6.3/10 | 6.7/10 | 6.5/10 |
| Karvy | 6.8/10 | 6.3/10 | 6.7/10 | 6.4/10 | 6.0/10 |
| Motilal Oswal | 6.6/10 | 6.4/10 | 6.6/10 | 6.6/10 | 6.4/10 |
Seaways Shipping and Logistics IPO Grey Market Premium
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Seaways Shipping and Logistics IPO News
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