Ashapura Logistics Limited has kicked off its Initial Public Offering (IPO), offering shares to the public for the first time. The IPO began on July 30, 2024, and will be open for subscription until August 1, 2024. This is an exciting opportunity for investors to buy shares in the company.
The IPO has seen a great response from investors. By the end of the first day, the IPO was oversubscribed by 3.73 times. This means that investors have shown a strong interest, applying for shares that are 3.73 times the amount the company is offering.
Here’s a breakdown of the interest from different types of investors:
Retail investors were very interested and subscribed 5.78 times the number of shares allotted to them. Qualified Institutional Buyers (QIBs) subscribed 1.50 times.Non-Institutional Investors (NIIs) subscribed 1.92 times.
Important Dates to Remember
For those interested in this IPO, here are some key dates:
- IPO Open Date: July 30, 2024
- IPO Close Date: August 1, 2024
- Share Allotment Date: Expected on August 2, 2024
- Listing Date: Expected on August 6, 2024, on the NSE SME (National Stock Exchange Small and Medium Enterprises segment)
The Grey Market Premium (GMP) is a key indicator for IPOs. It shows the difference between the expected market price and the issue price of the shares. The GMP helps investors gauge the demand for the IPO. For Ashapura Logistics, the GMP is currently +95, which means that shares are being sold at a ₹95 premium in the grey market. This suggests that the shares are in high demand and could be listed at a higher price.
Ashapura Logistics is a company that provides logistics services. Logistics is the process of managing and transporting products from one location to another. The company helps businesses by transporting their products, storing them in warehouses, and managing their supply chains.
Investors should be aware of the following details before deciding to invest in the IPO:
- Price Range: The shares are being offered at a price range of ₹136 to ₹144 per share.
- Minimum Investment: Retail investors need to invest a minimum of ₹144,000, which is for a lot of 1,000 shares. Non-institutional investors need to apply for at least 2 lots.
The IPO is a book-built issue of ₹52.66 crores, consisting entirely of a fresh issue of 36.57 lakh shares.
Should You Invest?
Investing in an IPO involves risks. It’s essential to research the company’s financial health, business model, and potential risks. Review the company’s prospectus for detailed information before making any investment decisions. Remember, the value of shares can rise or fall, so invest only what you can afford to lose.
Overall, the Ashapura Logistics IPO has generated significant interest, reflecting strong investor confidence in the company’s prospects.