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Seven Islands Shipping mulls Rs. 450 crore IPO by 4th week of Jan 18

Published on Friday, January 5, 2018 by Dilip Davda

Seven Islands Shipping mulls Rs. 450 crore IPO by 4th week of Jan 18

Seven Islands, a dominant player in liquid marine logistics with around 12 Marine Tankers and having clients like HPCL, BPCL, IOC is gearing for a maiden IPO of Rs. 450 crore comprising Rs. 200 crore fresh equity issue and Rs. 250 crore via offer for sale. Company is diluting around 22% of post issue equity.

It has been reporting CAGR of above 25% in top lines and 50% in bottom lines for past three fiscals. Its turnover grew from Rs. 104 crore in FY 14 to Rs. 383 crore in FY 17 with commensurate rise in net profits that grew from Rs. 17 crore to Rs. 107 crore for the corresponding years.

As of June 2017, it is the third largest liquid seaborne logistics company in India by deadweight tonnage (Source: CRISIL Report). All its vessels are registered and flagged in India and operate as Indian owned and flagged vessels. Company operates primarily along the Indian coast, Arabian gulf and South-east Asia. Currently company owns and operates 12 liquid vessels with a total deadweight capacity of 900,558 MT out of which two are Small vessels, seven are MR vessels, two are Suezmax vessels and one is a VLCC vessel.

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About Author

DISCLAIMER: No financial information whatsoever published anywhere here should be construed as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published here. Any reader taking decisions based on any information published here does so entirely at own risk. Above information is based on RHP and other documents available as of date coupled with market perception. Author has no plans to invest in this offer.

(SEBI registered Research Analyst-Mumbai).


About Dilip Davda

A veteran journalist associated with stock market since 1978 and contributing as free lancer to print media on stock markets/insurance/finance since 1985 and to electronic media since 2000. My contribution as a consultant/free lancer/columnist to print media includes Money Opportunity, Money Times, Finance Today, Sharebazaar Journal, Mumbai Samachar, Janmabhoomi, Sandesh, Smart Investment, Jito, Insurance world, Free Press Journal, Gujarat Samachar, Times of India/Economic Times, Navshakti, Loksatta etc. For electronic media I have been a visiting faculty for DD News, Zee Bizness, TV9.

Email: dilip_davda@rediffmail.com


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