SJ Logistics IPO: The IPO of SJ Logistics, a provider of logistics and supply chain solutions and services, which opened for public subscription on Tuesday, will close on Thursday, December 14. The IPO met with great response from investors. Till 11:41 am on the last day of offering on Thursday, the Rs 48-crore SME IPO was subscribed about 100.73 times and received bids for 25,73,62,000 shares against 25,55,000 shares on offer.
The category meant for non-institutional investors received subscriptions 89.66 times while the quota for retail investors (RIIs) received subscriptions 156.32 times. The Qualified Institutional Buyers category received 11.78 subscriptions.
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The SJ Logistics IPO opened for public subscription on Tuesday, December 12th and closes today, Thursday, December 14th. The IPO price was set at Rs 125 per share.
On the second day of bidding on Wednesday till 4 pm, the Rs 48-crore SME IPO was subscribed around 52.87 times.
SJ Logistics IPO GMP today
According to market observers, unlisted shares of SJ Logistics (India) Ltd are currently trading Rs 125 higher than their issue price in the gray market. The gray market premium or GMP of Rs 125 means that the gray market expects a 100 percent listing profit 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
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The IPO of SJ Logistics is 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 is 1,000 shares. The minimum investment amount required for retail investors is 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.
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SJ Logistics (India) Limited, based in Thane, was founded in 2003. The company provides logistics and supply chain solutions and services.
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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 14, 2023, 11:54 IST
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