ABS Marine Services IPO

Founded in October 1992, ABS Marine Services Limited manages offshore vessels and owns five vessels as of December 31, 2023. These include two modern offshore vessels for the oil and gas sector and three harbour vessels for the Indian port sector. The company is divided into four divisions: Ship Ownership, Ship Management, Marine Services, and Port Services. The company currently manages a total of 12 vessels for the government, public companies, private companies and port authorities (as of December 31, 2023). It also provides crew management services for 24 other vessels, including oil tankers, gas carriers, bulk carriers, passenger ships and high-speed vessels. The company owns a fleet of vessels that are fully chartered, managed and manned. These vessels are equipped with state-of-the-art DP-2 multipurpose offshore supply vessels, anchor handling supply vessels, multidisciplinary marine research vessels, coastal research vessels, oceanographic fisheries research vessels, bulk carriers, gas tankers, oil tankers, passenger vessels, high speed craft and harbour vessels. The company has offices in Mumbai and Chennai, India's two largest cities, as well as a branch office in Cochin and a satellite office in Kakinada. In addition, as of December 31, 2023, the company has a network of more than 40 in-house professionals to support it in its work.

The Company proposes to utilise the Net Proceeds towards funding the following objects  Acquistion of off shore vessel Funding the working capital requirements of the Company; and General corporate purposes.

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