ABS Marine Services IPO allotment status to be finalised on May 16: Steps to check share allocation

ABS Marine Services IPO share allotment status is expected to be finalised on Thursday, May 16.

The public issue closed with a bumper 145 times oversubscription on the final day of bidding. The integrated shipping company received bids for 62.67 crore shares against 42.99 lakh shares on offer, the NSE data showed.

The non-institutional investors category of ABS Marine Services IPO was subscribed over 271 times while the retail portion was booked 112.63 times. In the qualified institutional buyers category, ABS Marine Services witnessed an oversubscription of 109.3 times.

Investors who submitted bids in ABS Marine Services IPO can check the allotment status online via the official website of the issue's registrar— Purva Sharegistry India Pvt Ltd. The allotment data shall also be made available online via the website of NSE.

How to check ABS Marine Services IPO allotment online?

• Log on to Purva Sharegistry's website --https://www.purvashare.com/investor-service/ipo-query
• Here, from the drop-down menu select 'ABS Marine Services Limited'
• Enter the required credentials to proceed with your request.
• Click on the search button.

Your allotment status in ABS Marine Services IPO will be displayed on the screen.

ABS Marine Services will start the credit of shares into the demat account of successful bidders on Friday, May 17. Refunds for the non-allottees will also be done on the same day.

ABS Marine Services shares are scheduled to be listed on the small and medium platform of the NSE, Emerge, on Tuesday, May 21.

ABS Marine Services IPO is a fresh issue of 65.5 lakh shares including 4.10 lakh shares for market makers and an anchor allocation of 18.41 lakh shares.

ABS Marine Services IP price band has been set in the range of ₹140 to ₹147 per equity share at face value of ₹10 each. The company intends to raise ₹96.29 crore from the market through the fresh issue.

GYR Capital Advisors Private Ltd has been appointed as the sole book-running and lead manager for ABS Marine Services IPO.

Money raised in the IPO will be used for the acquisition of offshore vessels for business expansion and the working capital requirements of the money. A portion of the proceeds shall also be used for general corporate purposes.

About ABS Marine Services

Incorporated in 1992, ABS Marine Services is an integrated marine offering vessel management services. The company owns five vessels and manages another 12 for government as well as private companies. ABS Marine Services is also engaged in the business of offering crew management services.

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