Rudra Green Ship Recycling IPO (DRHP filed)
Rudra Green Ship Recycling Limited filed its draft red herring prospectus with SEBI on 30 Sep 2026. Price band, lot size and issue dates are announced only after SEBI observations and the RHP filing.
Last updated
- Stage
- DRHP Filed
- DRHP filed
- 30 Sep 2026
- Days since
- 31
- Issue size
- —
- Board
- Mainboard
- Price band
- TBA
Rudra Green Ship Recycling IPO status
Rudra Green Ship Recycling Limited filed its draft red herring prospectus (DRHP) with SEBI on . The issue can open only after SEBI issues its observations and the company files the RHP with the price band.
| DRHP filed | 30 Sep 2026 |
|---|---|
| Days since filing | 31 |
| SEBI observation | Awaited |
| Price band | TBA |
| Issue dates | TBA |
Share reservation by category
| Category | Shares Details |
|---|---|
| Qualified Institutions | Not More Than 50% of the Net Issue |
| Retail Investors | Not Less Than 35% of the Net Issue |
| Non-Institutional | Not Less Than 15% of the Net Issue |
Rudra Green Ship Recycling Limited financials
Between 31 Mar 2025 and 31 Mar 2026, Income rose from ₹179.7 Cr to ₹205 Cr, and profit after tax rose from ₹9.82 Cr to ₹12.65 Cr. The PAT margin for 31 Mar 2026 was 6.17%.
| Period ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 169.92 | 166.12 | 94.91 |
| Total Income | 205.00 | 179.70 | 180.64 |
| Profit After Tax | 12.65 | 9.82 | 5.37 |
| EBITDA | 21.79 | 16.73 | 8.43 |
| Net Worth | 52.47 | 39.82 | 30.01 |
| Reserve & Surplus | 37.47 | 24.82 | 15.01 |
| Total Borrowings | 62.21 | 52.54 | 35.33 |
₹ in crore, as stated in the prospectus.
Key performance indicators
| KPI | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| ROE % | 27.40 | 28.11 | 19.64 |
| ROCE % | 19.03 | 18.25 | 14.09 |
| Debt / Equity | 1.19 | 1.32 | 1.18 |
| RoNW % | 27.40 | 28.11 | 19.64 |
| Pat Margin % | 6.17 | 5.46 | 2.97 |
Peer comparison
| Company | Face value | P/E | EPS (basic) | EPS (diluted) | RoNW | NAV |
|---|---|---|---|---|---|---|
| Rudra Green Ship Recycling Limited | 5 | — | 4.22 | 4.22 | 27.40% | 17.49 |
| VMS Industries Limited | 10 | 29.75 | 0.60 | 0.60 | 1.51% | 39.70 |
From the prospectus. P/E is shown as — when earnings are zero or negative, or not reported for the issuer before listing.
Objectives
The company intends to allocate the net proceeds from the offering to the following objectives.
| Sr | Objective | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding working capital requirements of our Company | 90.00 |
| 2 | Achieving inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes | — |
| Total | 90 |
About Rudra Green Ship Recycling Limited
Incorporated in June 2018, Rudra Green Ship Recycling Limited is engaged in the business of ship recycling and the sale of materials recovered from end-of-life vessels, along with the trading of ferrous materials and steel products. The Company acquires end-of-life vessels from ship owners, brokers and intermediaries and undertakes their recycling at its ship recycling yard. Since incorporation, the Company has recycled 25 vessels aggregating 188,054.82 MT of Light Displacement Tonnage (LDT), comprising oil tankers, bulk carriers, container vessels, refrigerated cargo vessels, vehicle carriers, general cargo vessels, Ro-Ro vessels, gas carriers and offshore assets. During the last three Fiscals, the Company recycled 12 vessels aggregating 57,268.49 MT of LDT. The recycling process enables the recovery of steel, ferrous and non-ferrous materials, machinery, equipment and other reusable components, which are subsequently sold to customers across various industrial sectors.
The Company conducts its ship recycling operations from its Ship Recycling Yard at Sosiya, Talaja, Bhavnagar, Gujarat, which forms part of the Alang-Sosiya Ship Recycling Yard and has been allotted by the Gujarat Maritime Board. The Company also operates from rented backyard premises that support its ship recycling activities. Its ship recycling yards are equipped with infrastructure for environmental management and the segregation, storage and handling of recyclable materials and waste. The Company has obtained ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018 certifications, covering quality management, environmental management and occupational health and safety, respectively.
In addition to its ship recycling operations, the Company is engaged in the trading of ferrous materials and steel products, providing it with a presence across the broader steel and ferrous materials value chain. The Company’s revenue from operations increased from ₹17,950.69 lakh in Fiscal 2024 to ₹20,451.53 lakh in Fiscal 2026.
As of August 31, 2026, the Company had a workforce of 94 employees across management, yard operations, production, safety, supervision and labour functions
Promoters
Ashokkumar Jagdishram Gupta
Shamarani Ashokkumar Gupta
Sahil Ashok Gupta
Shrishti Nihilkumar Gupta
Sonthalia Steel Rolling Mills Private Ltd.
Contact details
Rudra Green Ship Recycling Ltd.
BL D-60, Kaliabid Shivana
Kadiabid Nr. Wahghavay
Bharatnagar Bhavnagar, Gujarat, 364002
Telephone: +91 97277 84172
E-mail: info@rudragreenshiprecycling.co
Website:https://www.rudragreenshiprecycling.com/
Rudra Green Ship Recycling IPO FAQs
- Has Rudra Green Ship Recycling IPO filed for an IPO?
- Rudra Green Ship Recycling Limited filed its draft red herring prospectus (DRHP) with SEBI on 30 Sep 2026.
- When will the Rudra Green Ship Recycling IPO open?
- Issue dates are announced after SEBI observations and the RHP filing. They are not available yet.
- What is the Rudra Green Ship Recycling IPO price band?
- The price band is announced a few days before the issue opens. It is not available yet.
Details are from the draft prospectus and can change in the final RHP. This is not investment advice.