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Arvind and Company Shipping Agencies IPO
Arvind and Company Shipping Agencies Limited
₹1,35,000 /3000 sharesMinimum Investment
Arvind and Company Shipping Agencies IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 12 Oct ‘23 - 16 Oct ‘23 | ₹1,35,000 | 3,000 | ₹45 - ₹45 |
| Issue Size | IPO Doc |
|---|---|
| 14.74Cr | RHP PDF |
About Arvind and Company Shipping Agencies
Founded in
1987
Managing director
Mr. Arvind Kantilal Shah
Parent organisation
Arvind and Company Shipping Agencies Limited
Strengths & Financials of Arvind and Company Shipping Agencies
Strengths
Risks
The company's strategic location along the West coastline of Gujarat contributes to its chartering income from barges. Situated in key shipping hubs and close to major ports, the company reduces transportation costs and lead times.
In the hotel sector, the company's property, Hotel Millennium Plaza, is strategically positioned 20 kilometers away from Jamnagar on the Jamnagar-Khambhadiya highway (Moti Khavdi 361140). This location is in close proximity to some of India's largest petroleum refineries.
Within its Hospitality business segment, the company manages two hotels, namely Hotel Millennium Plaza and Hotel 999, both located in Jamnagar, Gujarat. Hotel Millennium Plaza has 72 well-appointed rooms and has been under the company's operation since 2021. It spans an area of 5882.17 square meters. Hotel 999 is yet to commence its commercial operations.
As of May 31, 2023, the company maintains a fleet of five barges with four active work orders, rental agreements, or Memorandums of Understanding (MOUs) in place.
Arvind and Company Shipping Agencies relies heavily on their operations in the state of Gujarat for its revenue. Any adverse developments in this region could harm the company's financial health and performance.
The company's income and profits are closely tied to the chartering of barges.
A significant portion of the company's revenue comes from its top five customers. In 2023, these customers contributed 93.14% of the revenue, while in the financial years 2022-23, 2021-22, and 2020-21, they contributed 100% each year.
The company's promoters and directors are facing litigation and the outcomes are uncertain. Currently, there are 16 tax litigations involving its directors and promoters, amounting to Rs. 3.08 crores.
As of May 31, 2023, the company has an outstanding debt of Rs. 2,152.60 lakhs.
Additionally, the company has unsecured loans of Rs. 856.46 lakhs from lenders, which are repayable upon demand.
The company has secured an outstanding debt of Rs. 1,296.14 lakhs as of May 31, 2023.
The company's customer base is limited, with one of its main clients being Arcadia Shipping and Trading Co., a group company. Arcadia Shipping and Trading Co. contributed 43.72%, 41.79%, 10.88%, and 39.05% to the company's total revenue in 2023 and the financial years 2023, 2022, and 2021, respectively.
In the past, the company experienced negative cash flow from its operating activities, which could potentially impact its growth and overall business.
Arvind and Company Shipping Agencies Financials
*All values are in Rs. Cr
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Application Details of Arvind and Company Shipping Agencies IPO
| Apply as | Price band | Apply upto |
|---|---|---|
| Regular | ₹45 - 45 | ₹2 - 5 Lakh |
| High Networth Individual | ₹45 - 45 | ₹2 - 5 Lakh |
For Arvind and Company Shipping Agencies IPO, eligible investors can apply as Regular.