Marinetrans India is set to open its initial public offering (IPO) for subscription on Thursday, November 30, and will close on Tuesday, December 5, with a fixed price band of ₹26 per share. Investors have the opportunity to bid for a minimum of 4000 shares and in multiples thereof. The face value of the equity shares is ₹10 each, and the issue price is 2.6 times the face value.
Specializing in sea freight forwarding, Marinetrans India began as a goods forwarder and expanded its services to include door-to-door delivery and third-party logistics (3PL) through informal agreements with service providers. The company provides a comprehensive range of freight-related and transport management services, handling both air and sea freight.
With branches in Ahmedabad, Gujarat, and headquarters in Navi Mumbai, Maharashtra, Marinetrans India primarily operates for shipping cargo globally through strategic locations such as JNPT, Nhava Sheva, Mundra, Kandla, Chennai, Vizag, and other key points in India.
Promoted by Arunkumar Narayan Hegde and Tirah Kumar Babu Kotian, the IPO’s listing peers include Cargosol Logistics Ltd, Cargotrans Maritime Ltd, AllCargo Logistics Ltd, and Total Transport Systems Ltd, each with its respective Price/Earnings (P/E) ratio, as per the Red Herring Prospectus (RHP).
Marinetrans India’s IPO, valued at ₹10.92 crore, is entirely a fresh issue of 4,200,000 equity shares, with no offer for sale (OFS) component, as outlined in the RHP. The funds raised will be utilized to meet working capital needs, cover general corporate expenses, and pay for issue-related costs to leverage the advantages of being listed on the NSE Emerge Platform.
The IPO process will see the basis of allotment finalized on Friday, December 8, with refunds initiated on Monday, December 11. Shares are expected to be credited to the demat accounts of allottees on Sunday, December 10. The listing on NSE SME is tentatively scheduled for Monday, December 11, according to chittorgarh.com. In case the company opts for the T+3 norm, the dates will be adjusted accordingly.
Skyline Financial Services Private Ltd serves as the registrar for the IPO, while Swaraj Shares and Securities Private Limited act as the book running lead manager. Nnm Securities is the designated market maker.
As of the latest update, the grey market premium (GMP) for Marinetrans India IPO stands at ₹0, indicating that shares are trading at their issue price of ₹26 with no premium or discount, reflecting investor sentiment.
‘Grey market premium’ signifies investors’ willingness to pay more than the issue price.