Ashapura Logistics IPO Listed at ₹185 a Share with 28.5% Premium

Tanushree Jaiswal Tanushree Jaiswal

Last Updated: 6th August 2024 - 02:20 pm

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On August 6, Ashapura Logistics shares made a successful IPO debut on the NSE SME, listing at a premium of 28.5 percent. The shares started trading above the issue price of ₹144, at ₹185 a share. Anchor investors also showed a lot of support for the IPO, as it raised ₹14.98 crore ahead of the public offering.

The Ashapura Logistics IPO, valued at ₹52.66 crores, involves a fresh issue of 36.57 lakh shares. Bidding took place from July 30 to August 1, 2024, with the allotment completed on August 2, 2024. The IPO is scheduled to list on the NSE SME on August 6, 2024. The price band is set between ₹136 and ₹144 per share, with a minimum lot size of 1,000 shares. Retail investors need to invest a minimum of ₹144,000, while high-net-worth individuals (HNI) must invest at least ₹288,000 for 2,000 shares. Beeline Capital Advisors Pvt Ltd is the book-running lead manager, Kfin Technologies Limited serves as the registrar, and Spread X Securities is the market maker. 

The IPO allocates 3,657,000 shares: 696,000 (19.03%) to Qualified Institutional Buyers (QIB), 522,000 (14.27%) to Non-Institutional Investors (NII), 1,216,000 (33.25%) to Retail Individual Investors (RII), and 1,040,000 (28.44%) to Anchor Investors. The IPO raised ₹14.98 crores from anchor investors on July 29, 2024, with a lock-in period for 50% of the shares ending on September 1, 2024, and the remaining shares locked in until October 31, 2024.

Check Ashapura Logistics Subscription Status for Day 3

To Summarize

Ashapura Logistics Limited's IPO made a strong debut on the NSE SME on August 6, listing at a 28.5% premium. The shares started trading at ₹185 each, above the issue price of ₹144. The ₹ 52.66-crore IPO was oversubscribed 185.75 times, with high interest from all investor categories. The strong listing suggests positive market reception and potential for further growth.

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