ABS Marine Services Ltd IPO

ABS Marine Services Limited was originally incorporated as `ABS Marine Services Private Limited' a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated October 27, 1992, issued by the Registrar of Companies, Tamil Nadu (RoC). Subsequently, the name of the company was changed from ABS Marine Services Private Limited' to `ABS Marine Services Limited', upon conversion into public company, pursuant to a special resolution passed by the shareholders of the Company on September 27, 2023 and a fresh certificate of incorporation consequent to conversion was issued by the RoC on October 23, 2023. The Company's Corporate Identity Number is U71120TN1992PLC023705.

India has emerged as the fastest-growing major economy in the world and is expected to be one of the top three economic powers in the world over the next 10-15 years, backed by its robust democracy and strong partnerships. Strong economic growth in the first quarter of FY23 helped India overcome the UK to become the fifth-largest economy after it recovered from the COVID-19 pandemic shock. Real GDP at constant prices (2011-12) in the first quarter of 2023-24 is estimated at Rs. 40.37 trillion (US$ 484.94 billion), showing a growth of 7.8% as compared to the first quarter of 2022-23 estimated at Rs. 37.44 trillion (US$ 449.74 billion).

ABS Marine Services Limited is a fully integrated company with in-house complete vessel management including commercial management. The Company provides crew management services to ships comprising Oil Tankers, Gas Tankers, Bulk Carriers, Passenger Vessels Offshore Support vessels, Harbour Crafts and High Speed Crafts. Its customers are primarily comprised of Government of India, public sector undertakings, port authorities and private sector. Its existing business is divided into four divisions - 1) Ship Owning 2) Ship Management 3) Marine Services and 4) Port Services.