Ashapura Logistics IPO Subscribed More Than 180 Times On Final Day
The SME issue was subscribed 3.82 times on day 1 and 16.14 times at the end of day 2.
The initial public offering (IPO) of Ashapura Logistics Ltd. opened for subscription on July 30. Ashapura Logistics IPO is a book-built issue valued at Rs 52.66 crores, comprising a fresh issue of 36.57 lakh shares. The SME issue was subscribed 3.82 times on day 1 and 16.14 times at the end of day 2.
Ashapura Logistics IPO Day 3 Subscription Status
The IPO has been subscribed 185.75 times as of 06:20 p.m on Thursday.
Anchor investors: 1 time.
Non-institutional buyers: 289.33 times.
Retail investors: 174.21 times.
Qualified Institutions: 128.23 times.
Ashapura Logistics IPO Details
The IPO price band is set between Rs 136 and Rs 144 per share. Retail investors can apply for a minimum lot size of 1,000 shares, which requires an investment of Rs 1,44,000.
High Net-Worth Individuals must apply for at least 2,000 shares, amounting to Rs 2,88,000. The IPO will close on August 1. The allotment process is expected to be finalised on August 2, with the shares scheduled to list on NSE SME on August 6.
Beeline Capital Advisors Pvt. Ltd. is the book-running lead manager for the IPO, with Kfin Technologies Limited serving as the registrar. Spread X Securities has been appointed as the market maker for this offering.
About Ashapura Logistics Ltd.
Founded in 2009, Ashapura Logistics Ltd. is a prominent Indian logistics company specialising in a range of services including cargo handling, freight forwarding, transportation, project logistics, and third-party logistics. The company also provides warehousing, distribution, and coastal movement services.
Ashapura Logistics IPO: Use of Funds and Objectives
Proceeds from the Ashapura Logistics IPO will be allocated towards several key objectives. The funds will primarily be used for capital expenditure to purchase trucks and ancillary equipment. Additionally, the company plans to use the funds for constructing warehouses at its facilities in Mundra, Gujarat. Other uses of the proceeds include meeting incremental working capital requirements and covering general corporate purposes.
Financial Performance
Ashapura Logistics Ltd. has reported a decrease in revenue by 10.45% for the financial year ending March 31, compared to the previous year. But, the company’s profit after tax (PAT) saw a notable increase of 30.46% over the same period.
Disclaimer: Potential investors are advised to review the IPO prospectus and consult with financial advisors to understand the risks and rewards associated with investing in any particular IPO. The above article is meant for informational purposes only, and should not be considered as any investment advice.
