A new initial public offering (IPO) in the maritime industry is set to open for subscription today, offering fresh investment opportunities for interested individuals. The IPO, launched by Sahara Maritime Limited, will be open for three days, starting on December 18, 2023, and concluding on December 20, 2023.
Sahara Maritime’s IPO is a fixed price issue, with a total value of Rs 6.88 crores. The IPO consists of 8.5 lakh shares, offered at a price of Rs 81 per share. The listing date for the IPO is tentatively scheduled for December 26, 2023, and the shares will be listed on the BSE SME segment.
Investors taking part in the IPO should take note of the lot size and the minimum investment requirements. The minimum lot size for an application is 1600 shares, with a minimum investment amount of Rs 129,600 for retail investors. High-net-worth individuals (HNIs) are required to invest in a minimum of two lots, totaling 3,200 shares and amounting to Rs 259,200.
The funds raised through the IPO will be utilized for various purposes. Sahara Maritime intends to allocate Rs 32.68 lakhs towards capital expenditure for the purchase of commercial vehicles and office equipment. Additionally, a portion of the net proceeds, amounting to Rs 24.13 lakhs, will be used to purchase new trucks for business operations. A significant portion, Rs 483.70 lakhs, will be utilized to fund the company’s working capital requirements in the next two financial years.
