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The IPO was subscribed 1.64 times, with retail investors bidding 1.66 times, non-institutional investors (NII) 1.82 times, and qualified institutional buyers (QIBs) 1.33 times.
The SME IPO of Paradeep Parivahan was fully subscribed on Day 3 after receiving a muted response on the first two days of bidding.
The IPO aims to raise funds to meet working capital requirements and for general corporate purposes.
Founded in 2000, Paradeep Parivahan is a port service provider specializing in logistics, ship husbandry, and stevedoring. The company is based in Paradip Port, Odisha, and offers cargo handling, ship husbandry, stevedoring, dredging among other services.
The company operates across multiple locations, including Gopalpur, Paradip, Haldia, Visakhapatnam, Jajpur, Joda and Barbil, catering to diverse sectors like cargo shipping, cement, steel, and railway siding.
IPO Details
Paradeep Parivahan IPO was a book-built issue of Rs 44.86 crores, combining entirely with a fresh issue of Rs 45.78 crores. The price band was set at Rs 93-98 per share.
Share India Capital Services Private Limited is the book-running lead manager for the issue, Bigshare Services Pvt Ltd is the registrar, and Share India Securities Limited is the market maker.
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