Seven Islands Shipping IPO – Review, Allotment Status, Subscription, Price, Date & more
Last Updated Date: Sep 01, 2023Let’s have a detailed review of the company and analytics of the Seven Islands Shipping IPO release date, IPO offer price, subscription, Seven Islands Shipping Limited IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
| Face Value | Rs 10 |
| Price Band | Rs [●] |
| Listing At | BSE, NSE |
| Min. Order Quantity | [●] |
| Listing Date | [●] |
| Offer for Sale | Rs 2,000 MILLION |
| Fresh Issue | Rs 4,000 MILLION |
| IPO Size | Rs 6,000 MILLION |
| Tick Size | [●] |
Seven Islands Shipping IPO is listed at [●] premium. Check out the live share price by clicking on the below link.
| Seven Islands Shipping Share Price – Live Performance |
Summary of Seven Islands Shipping IPO
Seven Islands Shipping is a sea-coast logistics company that deals with the trading of various types liquid oil, white oil, crude oil trading, petrochemical lubricants, etc.
They are also engaged in the crude oil logistics business where crude oil is transported in vessels classified as Aframax, Suezmax and Very Large Crude Carriers or VLCCs.
Their oil products business is carried out through Small and MR vessels while their crude oil logistics business is currently carried out through Suezmax vessels and they have in the past also used a VLCC vessel for this purpose.
The promoters for this company are THOMAS WILFRED PINTO, LEENA METYLDA PINTO AND FIH MAURITIUS INVESTMENTS LTD. Lead running managers of this company are JM Financial Limited and IIFL Securities Limited***. The registrar of the IPO is Link Intime India Private Limited.
Seven Islands Shipping IPO Date
The opening and the closing date of Seven Islands Shipping Limited IPO is NA
Check out Related IPO Links:
| Seven Islands Shipping IPO GMP |
| Allotment of Seven Islands Shipping IPO |
Seven Islands Shipping IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – | ||||
| 2nd Day – | ||||
| 3rd Day – | ||||
| Shares Offered or Net Issue |
The details of shares being subscribed would be updated on a daily basis upon release of the IPO.
Seven Islands Shipping IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment status is not yet disclosed.
Seven Islands Shipping Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing and more:
| Basis of Allotment Finalization | – |
| Refunds Initiation | – |
| Credit of Shares to Demat Account | – |
| Share Listing Date | – |
Seven Islands Shipping IPO Price Band / Cash Price
The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed.
Seven Islands Shipping IPO Equity Size
This Initial Public Issue of [●] Equity Shares of Rs.10 each for cash at a price of Rs.[●] per equity share aggregating to Rs.600 million.
Seven Islands Shipping IPO Share Offering
Fresh Issue: The Fresh Issue of [●] Equity Shares by their Company, aggregating to Rs.4,000 million,
Issue Size: [●] Equity Shares of Rs.10 each, aggregating to Rs.6,000 million
Offer for Sale: Offer for sale consists of Up to [●] Equity Shares of face value of Rs.10 each, aggregating Rs.2,000 million.
Seven Islands Shipping IPO – Live Performance
The listing date of this IPO is NA. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Seven Islands Shipping Share Price |
Seven Islands Shipping IPO Grey Market Premium
The Seven Islands Shipping IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
Seven Islands Shipping Ltd – Company Overview
As of December 2020, they were the third largest seaborne logistics company in India by deadweight tonnage. In 2020, their Company held a significant market share in Indian time charters of crude oil imports.
They are among the few Indian shipping companies that have delivered positive net profits in each of the past three Fiscals and their Return on Average Equity and Return on Average Capital Employed is among the highest in the seaborne logistics industry in India.
All their 20 vessels are registered and flagged in India and operate as Indian owned and Indian flagged vessels. They began their operations with only one vessel in Fiscal 2003 and as of January 31, 2021, they had 20 liquid cargo vessels with a total deadweight capacity of 1,105,682 MT.
Out of their 20 vessels, four are Small vessels, 13 are MR vessels, and three are Suezmax vessels. Their capacity has grown from 6,009 MT of deadweight as of March 31, 2003 to 66,889 MT of deadweight as of March 31, 2010.
In Fiscal 2010, they purchased their first MR vessel. Since then, they have grown their fleet and capacity by acquisition of additional vessels at regular intervals
Seven Islands Shipping Business Verticals
They primarily enter into three types of arrangements for deployment of their vessels,
(i) a time charter contract where a contract is entered into for a specific duration of time and the charterer uses a vessel owner’s vessel for a fixed charter hire expressed in USD per day, pro rata;
(ii) a voyage charter contract which is an arrangement that is entered into for a specific voyage and the consideration is calculated based on a percentage of the Worldscale base rate for international voyages; and
(iii) contracts of affreightment (“CoAs”) that are contracts entailing a collection of voyage charters for the same customer and are to be completed within a specified span of time. They are among the leading liquid seaborne logistics companies in India in terms of number of time charter contracts with Indian charterers in Fiscal 2020
Seven Islands Shipping Ltd – Financial Statements
A summary of the financial position of the company is presented below:
Assets of the Company
| Assets (in INR & Millions) | ||||
| 30-Dec-20 | 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | |
| Total Assets | 18,032.99 | 16,552.68 | 12,260.06 | 9,356.51 |
| Total Revenue | 7,425.64 | 7,279.61 | 4,703.22 | 4,151.63 |
| *Total Expense | 6,198.77 | 6,432.01 | 4,293.23 | 3,263.31 |
| Profit After Tax | 1,194.67 | 802.96 | 388.16 | 880.01 |
Earnings per Equity Share (in Millions)
| 30-Dec-20 | 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | |
| Basic & Diluted | 20.88 | 14.03 | 8.13 | 18.50 |
Financial Summary:
Their EBITDA margin was 50.6%, 35.8%, 38.1% and 60.8% in Fiscal 2018, 2019 and 2020 and in the nine months ended December 31, 2020.
Their profit/(loss) for the period from operations went from Rs 880.01 million in Fiscal 2018 to Rs 388.16 million in Fiscal 2019 and further to Rs 802.96 million in Fiscal 2020 and was Rs 1,194.67 million in the nine months ended December 31, 2020.
Seven Islands Shipping IPO – Promoters
The Promoters of this company are:
- THOMAS WILFRED PINTO,
- LEENA METYLDA PINTO AND
- FIH MAURITIUS INVESTMENTS LTD
List of Related Parties (Key Managerial Personnel)
- Clayton Lawrence Pinto, Chief Executive Officer
- Warren George Pinto, Chief Financial Officer
- Jay Bhavesh Parekh, Company Secretary and Compliance Officer
Competitive Strengths of Seven Islands Shipping Limited:
- Proven ability to acquire vessels at optimal price and deploy vessels
- Quality in-house management of operations and cost competitive vessel management
- Sizeable and diverse India flagged and owned operating fleet
- Consistent financial performance
- Ability to retain advantage of tax regime
- Experienced management team
Seven Islands Shipping IPO Offer Details or Issue Details
| Offer of Equity Shares | Up to [●] Equity Shares aggregating up to Rs 6,000 million |
| of which: | |
| (A) Fresh Issue | Up to [●] Equity Shares aggregating up to Rs 4,000 million |
| (B) Offer for Sale | Up to [●] Equity Shares aggregating up to Rs 6,000 million |
| which includes: | |
| Employee Reservation Portion | Up to [●] Equity Shares, aggregating up to Rs [●] million |
| Net Offer | Up to [●] Equity Shares, aggregating up to Rs [●] million |
| The Offer comprises of: | |
| (A) QIB Portion | Not more than [●] Equity Shares |
| (B) Non-Institutional Portion | Not less than [●] Equity Shares |
| (C) Retail Portion | Not less than [●] Equity Shares |
| Equity Shares outstanding prior to the offer | 57,227,550 Equity Shares |
| Equity Shares outstanding after the Offer | [●]Equity Shares |
Seven Islands Shipping IPO Issue Object
These are the IPO Issue Objects of the company
They propose to utilise the Net Proceeds towards funding the following objects:
1. acquisition of one VLCC vessel and one MR vessel in the secondary market (“Acquisition of Vessels”); and
2. general corporate purposes
Seven Islands Shipping 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:
Some of the qualitative factors which form the basis for computing the Offer Price are:
- Proven ability to acquire vessels at optimal price and deploy vessels;
- Longstanding relationship with major Indian oil and gas customers;
- Quality in-house management of operations and cost competitive vessel management;
- Sizeable and diverse India flagged and owned operating fleet;
- Consistent financial performance;
- Ability to retain advantage of tax regime; and
- Experienced management team.
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-18 | 18.50 | 19.9% | – |
| 31-Mar-19 | 8.13 | 6.4% | – |
| *31-Mar-20 | 14.03 | 10.6% | 139.96. |
Competitive Peers:
| Particulars | Face Value (in Rs.) | EPS (In Rs.) Basic | P/E Ratio | RONW (%) | NAV (In Rs.) |
| Seven Islands Shipping Limited | 10 | 14.03 | [●] | 10.6% | 139.96 |
| Peer Group | |||||
| The Shipping Corporation of India Limited | 10 | 7.2 | 12.12 | 4.5% | 162.01 |
| The Great Eastern Shipping Company Limited | 10 | 13.9 | 18.48 | 3.0% | 462.39 |
| VRL Logistics Limited | 10 | 10.0 | 22.92 | 14.6% | 68.28 |
| Transport Corporation of India Limited | 2 | 18.5 | 13.45 | 14.0% | 133.27 |
| Blue Dart Express Limited | 10 | (17.6) | -260.90 | (8.5)% | 206.86 |
| TCI Express Limited | 2 | 23.2 | 41.58 | 26.4% | 87.93 |
Seven Islands Shipping IPO Lead Managers
| Lead Managers |
| JM Financial Limited 7th Floor, Cnergy Appasaheb Marathe Marg, Prabhadevi Mumbai 400 025, Maharashtra, India Telephone: +91 22 6630 3030 E-mail: sisl.ipo@jmfl.com Investor Grievance E-mail: grievance.ibd@jmfl.com Website: www.jmfl.com Contact Person: Prachee Dhuri SEBI Registration No.: INM000010361IIFL Securities Limited*** 10th Floor, IIFL Centre Kamala City, Senapati Bapat Marg, Lower Parel (West) Mumbai 400 013, Maharashtra, India Tel: +91 22 4646 4600 E-mail: sisl.ipo@iiflcap.com Investor Grievance E-mail: ig.ib@iiflcap.com Website: www.iiflcap.com Contact Person: Ujjaval Kumar / Keyur Ladhawala SEBI Registration No.: INM000010940 |
Seven Islands Shipping IPO Registrar to offer
| Registrar to offer |
| Link Intime India Private Limited C-101, 247 Park, LBS Marg, Surya Nagar, Gandhi Nagar, Vikhroli (West), Mumbai 400 083 Tel: (91 22) 4918 6200 Fax: (91 22) 4918 6195 E-mail: sevenislands.ipo@linkintime.co.in Investor grievance e-mail: sevenislands.ipo@linkintime.co.in Website: www.linkintime.co.in Contact person: Shanti Gopalkrishnan SEBI registration number: INR000004058 |
Seven Islands Shipping IPO – Other Details
- Statutory Auditor – S R B C & CO LLP, Chartered Accountants
- Legal Advisor to the Company – AZB & Partners
- Bankers to the Company – Axis Bank Limited, HDFC Bank Limited, IndusInd Bank Limited, Bank of Baroda
Seven Islands Shipping IPO Review by Top 10 Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
Seven Islands Shipping IPO News
News 1 : Seven Islands Shipping Limited Draft Offer Documents filed with SEBI
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