Sahara Maritime Ltd Share Price – BSE

Logistics, Small Cap

Sahara Maritime will hold a meeting of the Board of Directors of the Company on 30 May 2024

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The scrip was listed at Rs 81, at par with the initial public offer (IPO) price.

The counter hit a high of Rs 85.05 and a low of Rs 78.10. About 1.54 lakh shares of the company changed hands at the counter.

Sahara Maritime's IPO was subscribed 21.52 times. The issue opened for bidding on 18 December 2023 and it closed on 20 December 2023. The price of the IPO was fixed at Rs 81 per share.

The IPO comprised fresh issue of 8,49,600 shares. The promoter and promoter shareholding diluted to 100% from 72.32% pre-IPO.

The company intends to utilize the net proceeds for funding of capital expenditure requirements of company towards purchase of commercial vehicles and office equipment, funding of working capital requirements and general corporate purposes.

Sahara Maritime offers a range of freight services to its clients, which includes transport management. The company has established informal partnerships with various intermediaries to provide ancillary services such as Transportation, Multimodal Transportation, Project cargo handling, Third Party Logistics, Packaging, loading/unloading, and unpacking of items. Sahara Maritime's services include the following. As on 30 September 2023, the firm has around 52 employees

The company recorded revenue from operations of Rs 5.25 crore and net profit of Rs 0.01 crore for the period as on 30 September 2023.

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The equity shares of Sahara Maritime (Scrip Code: 544056) are listed effective 26 December 2023 and admitted to dealings on the Exchange in the list of ''MT'' Group Securities.

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