Paradeep Parivahan IPO subscribed 1.72x so far on Day 3. NIIs, retail investors steal the show. Check GMP, other | Stock Market News

Paradeep Parivahan IPO opened for subscription on Monday, March 17, and will close today, Wednesday, March 19. Paradeep Parivahan IPO price band has been fixed in the range of ₹93 to ₹98 per equity share of face value of ₹10 each. Bids can be made for a minimum of 1,200 equity shares and in multiples of 1,200 equity shares thereafter.

The company provides a wide range of solutions in the logistics and transportation industry as a Multi-Modal Transport Operator (MTO), focusing on air and sea freight, customs clearance, and various value-added logistics services.

It is acknowledged as an Authorised Economic Operator (AEO), supplying comprehensive logistics solutions, and holds a license from the Directorate General of Shipping in India to function as both an MTO and a Customs Broker, authorized by Mumbai Customs under the Department of Revenue of the Government of India.

The company oversees global cargo transportation, handling different shapes, sizes, and weights via sea, air, road, rail, coastal barges, or through multi-modal transportation approaches.

According to the Prospectus, the company’s publicly listed competitors include Marinetrans India Ltd (with a P/E ratio of 76.36), S J Logistics (India) Ltd (with a P/E ratio of 26.73), and Cargosol Logistic.

Paradeep Parivahan IPO subscription status

Paradeep Parivahan IPO subscription status is 1.72 times, on day 3, so far. The retail portion was subscribed 1.54 times, and NII portion was booked 2.64 times, and the Qualified Institutions Buyers (QIBs) was subscribed 1.33 times.

At 16:24 IST, the company has received bids for 47,86,800 shares against 27,87,600 shares on offer, according to data on chittorgarh.com

Paradeep Parivahan IPO subscription status was 1%, on day 1, and the issue was booked 36% on the second bidding day.

Paradeep Parivahan IPO details

Paradeep Parivahan IPO consists of a fresh issue of 45,78,000 equity shares, aggregating to ₹44.86 crore. There’s no offer for sale (OFS) component.

The proceeds from the offering, specifically the total raised minus associated issue expenses, are intended to be utilized for purposes like partially supporting long-term working capital requirements and other general corporate activities.

Share India Capital Services Private Limited is the lead manager for the Paradeep Parivahan IPO, while Bigshare Services Pvt Ltd serves as the registrar for this offering. The market maker for the Paradeep Parivahan IPO is Share India Securities Limited.

Paradeep Parivahan IPO GMP today

Paradeep Parivahan IPO GMP today or grey market premium was ₹0, which meant shares were trading at their issue price of ₹98 with no premium or discount in the grey market according to investorgain.com

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.