Arvind and Company Shipping – SME IPO for NSE listing to open on October 12, 2023

New Delhi (India), October 11: Arvind and Company Shipping Agencies Ltd. (ACSAL) -is a Jamnagar based company Incorporated in 1987. The company is primarily engaged in chartering business. Chartering activities of the company mainly includes chartering of Barges for commercial purposes.

Its comprehensive barge chartering services encompass a range of options tailored to meet specific requirements of the customers. Under these segment end users are construction companies who often require barges to transport heavy equipment, construction materials, or personnel to and from construction sites located near bodies of water. Barges can be used to transport materials such as sand, gravel, cement, steel, or machinery to support construction projects. It has recently forayed into hospitality business also with “Hotel Millennium Plaza” and “Hotel 999”, situated in surroundings of Jamnagar City of Gujarat.

As on the date of this Prospectus, it owned a total of 5 (Five) Barges. The company ventured into chartering barges by purchasing barge “Arcadia Sumeru” in FY 2021, “KB-26” and “KB-32” in FY 2022, “KB-28” and “Arcadia Minica” in FY 2023. Further, company has planed to procure 2 (two) more Barges namely “Arcadia Parshva” and “Ananta” from the proceeds of the IPO.

The Issue:

The company is coming out with its Initial Public Offer (IPO) of 3276000 equity shares of Rs. 10 each at a fixed price of Rs. 45 (including a premium of Rs. 35) per share to mobilize Rs. 14.74 cr. The issue opens for subscription on October 12, 2023, and will close on October 16, 2023. The minimum application lot will be 3000 shares and in multiples thereof. The shares of the company will be listed on the National Stock Exchange (NSE) on its SME Emerge platform.

Lead Manager to the issue is Beeline Capital Advisors Private Limtied and Skyline Financial Services Pvt. Ltd. is the registrar to the issue.

For the financial year 2022-23 it posted a total revenue of Rs. 8.41 cr. with net profit of Rs. 3.47 cr. and EBIDTA of ₹ 6.58 cr. For the financial year 2021-22 it posted a total revenue of Rs. 3.31 cr. with net profit of Rs. 1.00 cr. and EBIDTA of ₹ 1.79 cr.

While, for the two months’ period ended on 31st May 2023, it has reported a total revenue of Rs. 2.39 cr. with EBIDTA of ₹ 2.14 cr. and net profit of Rs. 1.14 cr.

If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.

Business News Finance PNN News Press Release

Creditwalle Revolutionizes Borrowing with Instant Loan Offerings, Redefining Financial Dynamics

Creditwalle is redefining financial dynamics with the launch of its revolutionary financial services platform, empowering borrowers with instant loan offerings, seamless lending process, transparency, and 24/7 accessible customer support team, so borrowers can find what they are looking for without going through a tedious process.  In the era of fast-paced lifestyles and digital advancements, loans […]

Read More
Business News National PNN News Press Release

Akkala Sudhakar Congratulates Newly Elected Union Ministers Kishan Reddy and Bandi Sanjay Kumar

Hyderabad (Telangana) [India], June 14:  Akkala Sudhakar, esteemed member of the Central Film Censor Board along with Mr. Raghunath Verabelli, BJP Mancherial District President, and Mr. Vijjith, BJP Medchal District Secretary has extended his heartfelt congratulations to Kishan Reddy and Bandi Sanjay Kumar on their recent appointments as Union Ministers. Kishan Reddy has been elected […]

Read More
Business News Finance PNN News Press Release

Creditwalle Launches Next-Generation Financial Services Platform, Making Borrowing Effortless

Creditwalle is making borrowing effortless with the launch of its next-generation financial services platform. The company is empowering borrowers with transparency, a fast lending mechanism, and 24/7 customer support to ensure borrowers don’t feel the urge to shift preferences.  Today, the financial market is consistently evolving based on the growing demand for accessibility, speed, and […]

Read More