Marinetrans India Limited IPO 2023: Review, Price, Dates, Analysis | NSE SME

Marinetrans India LTD IPO

Marinetrans India Limited is involved in shipping goods across seas, initially starting with freight movement and later expanding to provide Door-to-Door Delivery and 3PL services.

IPO Overview: The IPO will be open for subscription from November 30, 2023, to December 5, 2023, with an issue price fixed at Rs. 26 per share. The total issue size amounts to Rs. 10.92 CR.

Financial Performance: The company witnessed a surge in total revenue but a drop in Profit After Tax (PAT) in FY 23 compared to FY 22. Total assets increased, net worth strengthened, while borrowings also saw an uptick.

Issue Objective: The net proceeds from the IPO will be used for issue expenses, general corporate expenses, and funding working capital requirements of the company.

Promoters and Management: The key promoters of the company are Mr. Tirah Kumar Babu Kotian and Mr. Arunkumar Narayan Hegde.

Peer Comparison: A comparison with peers in the logistics sector shows variations in financial performance, P/E ratio, and EPS, indicating different valuation metrics among similar companies.

Valuation and Strengths/Weaknesses: The IPO's valuation is detailed, along with strengths such as organizational stability and skilled teams, and weaknesses such as legal proceedings, potential future provisions, and IPO Grey Market Premium uncertainty.

Dividend Policy: The company does not currently have a formal dividend policy, and its future dividend declaration depends on its earnings and financial health.

The IPO presents strengths but also highlights weaknesses such as legal proceedings and uncertainties in the IPO Grey Market Premium. Potential investors are advised to conduct thorough due diligence and consider these factors before making investment decisions.

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