ABG Shipyard IPO
ABG Shipyard IPO — date, price band, lot size & details 2005
ABG Shipyard listed on 13 Dec 2005 at ₹280, 51.4% above the ₹185 issue price.
ABG Shipyard is a Surat based shipbuilder that makes vessels such as bulk carriers, offshore supply vessels and tugs, and was building a new shipyard at Dahej. Its total income was Rs 304.10 crore in FY2005.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 18 Nov 2005
- Close 26 Nov 2005
- Allotment 08 Dec 2005
- Refund/credit TBA
- Listing 13 Dec 2005
Issue summary
The terms of the offer, as filed.
| IPO Dates | 18 to 26 Nov, 2005 |
|---|---|
| Price Band | ₹155 – ₹185 |
| Face Value | ₹10 |
| Lot Size | 35 Shares |
| Issue Size | ₹157.25 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 6,475 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 35 shares at the ₹185 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 35 | ₹6,475 |
| Retail (max) | 30 | 1,050 | ₹1,94,250 |
| S-HNI (min) | 31 | 1,085 | ₹2,00,725 |
| S-HNI (max) | 154 | 5,390 | ₹9,97,150 |
| B-HNI (min) | 155 | 5,425 | ₹10,03,625 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 207.20 crore in FY2004 to Rs 304.10 crore in FY2005.
- 02Profit after tax rose from Rs 7.20 crore in FY2004 to Rs 50.30 crore in FY2005.
- 03Net worth rose from Rs 48.50 crore in FY2004 to Rs 242.90 crore in September 2005.
- 04It was adding capacity with a Rs 3,588 million expansion including a new Dahej yard.
Risks · 5
- 01It had not signed definitive agreements to use most of the Rs 157.25 crore issue money.
- 02Some of its land at Surat was not registered in its name in land records; total assets were Rs 425.20 crore.
- 03Shipbuilding depends on a few large orders and delivery schedules; profit was only Rs 7.20 crore in FY2004.
- 04The Rs 3,588 million expansion was large next to its FY2005 net worth of Rs 98.80 crore.
- 05Promoter group holding fell from 68.3% before the issue to 56.9% after it.
Three years of numbers
All figures in ₹ crore, as reported in the ABG Shipyard offer document.
| Metric | 30 Sep 2005 | 31 Mar 2005 | 31 Mar 2004 |
|---|---|---|---|
| Assets | 425.20 | 263.30 | 177.30 |
| Total Income | 216.00 | 304.10 | 207.20 |
| Profit After Tax | 32.60 | 50.30 | 7.20 |
| NET Worth | 242.90 | 98.80 | 48.50 |
| Reserves and Surplus | 255.00 | 121.90 | 93.40 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the ABG Shipyard RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
ABG Shipyard IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹11.86 | ₹12.80 |
| P/E Ratio (x) | 15.60 | 14.45 |
| Market Cap at Offer Price (₹ Cr) | ₹508.52 | ₹471.17 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹185 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹492.25 Cr of the issue is earmarked to named objects.
About the company
It makes vessels such as bulk carriers, deck barges, anchor handling supply vessels, tugs and offshore vessels for clients in India and overseas.
It had begun a Rs 3,588 million capital expenditure plan to raise capacity, including a modern shipbuilding facility at Dahej, 150 kms from its existing yard.
The IPO was Rs 157.25 crore and was entirely a fresh issue at Rs 185, the top of the Rs 155 to Rs 185 band.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
ABG Shipyard IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
ICICI Securities
221 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Bannari Amman Spinning Mills (-25.2%).
HSBC InvestDirect Securities (India) Ltd
24 issues handledBest listing: Dishman Pharmaceuticals & Chemicals (+97.1%). Weakest: Bannari Amman Spinning Mills (-25.2%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of ABG Shipyard?
The current Grey Market Premium is ₹0.
What is the ABG Shipyard IPO price band?
₹155 to ₹185, on a face value of ₹10.
When is the allotment?
The basis of allotment is 8 December 2005, with listing on 13 December 2005.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
