The share allocation of SJ Logistics' IPO, which opened for public subscription between December 12 and 14, has been completed. The Rs 48-crore SME IPO received a whopping 316.26 times total subscription amount. Even though the listing is expected to take place on December 19th, Tuesday, the gray market is expecting an increase of 96 percent on that day.
The IPO price was set at Rs 125 per share.
SJ Logistics IPO: How to check allotment status
Story continues below advertisement
Step 1: Visit the Maashitla Securities website.
Step 2: Enter PAN, Application Number or Demat Account Number
Step 3: Click Submit.
Your IPO allotment status will be displayed. You can download or print it for your records.
SJ Logistics IPO GMP today
According to market observers, unlisted shares of SJ Logistics (India) Ltd continue to trade Rs 120 higher in the gray market compared to the issue price. The gray market premium or GMP of Rs 120 means that the gray market expects a listing profit of 96 percent from the public issue. The GMP is based on market sentiment and is constantly changing.
“Gray market premium” indicates investors’ willingness to pay more than the issue price.
SJ Logistics IPO details
The IPO of SJ Logistics was entirely a fresh issue of shares worth Rs 38.4 lakh. The price range has been set at Rs 121 to Rs 125 per share. The minimum lot size for registration was 1,000 shares. The minimum investment amount required from retail investors was Rs 1,25,000.
The proceeds will be used for the full or partial repayment and/or early repayment of certain loans taken out by the Company; to meet working capital needs; and for general corporate purposes.
Hem Securities Limited is the underwriter of the IPO of SJ Logistics while Maashitla Securities Private Limited is the registrar for the issue. The market maker for the SJ Logistics IPO is Hem Finlease.
Advertising
SJ Logistics (India) Limited, based in Thane, was founded in 2003. The company provides logistics and supply chain solutions and services.
Top videos
Telangana News | Political row over Telangana Governor Tamilisai Soundararajan | English news
Bihar News Today | Important details on the case of the missing priest in Bihar | English News | News18
FIR against Sajjan Jindal of JSW Group for alleged rape following Bombay High Court order | News18
Chhattisgarh News | A CRPF personnel killed in Naxal attack in Sukma Chhattisgarh | News18
Investigation into Parliament security breaches | Delhi Police special cell recovers phone parts | News
The Company provides freight forwarding, customs clearance and transportation processing services to companies in the yarn and textile, automobile, heavy engineering, power transmission, rubber bands, pharmaceuticals, carpets, handicrafts and iron and steel products sectors.
Its profit after tax was Rs 7.61 crore in financial year 2022-23 and its annual turnover was Rs 135 crore.
Mohammad HarisHaris is Deputy News Editor (Business) at news18.com. He writes on various topics…Read more
first published: December 17, 2023, 1:48 PM IST
News18 Join our WhatsApp channel
Comments are closed.