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The initial public offer (IPO) of Paradeep Parivahan received bids for 55,52,400 shares as against 33,85,200 shares on offer. The issue was subscribed 1.64 times. Retail investors bid for 23,10,000 shares, non-institutional investors bid for 21,79,200 shares and qualified institutional investors bid for 10,63,200 shares. The issue opened for bidding on 17 March 2025 and it closed on 19 March 2025. The price band of the IPO was set at Rs 93-98 per share. The equity shares will list on BSE's SME platform. The IPO comprised fresh issue of 33,85,200 equity shares. The promoter and promoter group shareholding diluted to 65.96% from 92.59% pre-issue. The company intends to utilize the net proceeds to meet working capital requirements and general corporate purposes. Ahead of the IPO, Paradeep Parivahan on 13 March 2025, raised Rs 11.68 crore from anchor investors. The board allotted 11.92 lakh shares at Rs 98 per share to 9 anchor investor. Paradeep Parivahan is located within Paradip Port and specializes primarily in logistics. The company is engaged in cargo handling, port operations, intra-port transportation, as well as the handling and transportation of port import cargo. It also provides in-plant shifting of bulk raw materials and hazardous cargo, railway siding operations, crusher operations, special attention cargo handling, earthwork, and more. The company had 1,124 employees on payroll. The company recorded revenue from operations of Rs 137.50 crore and net profit of Rs 5.17 crore for the period as of 30 September 2024. Powered by Capital Market - Live News |