Global Ocean Logistics IPO listing: Shares list at 1.5% premium over IPO price, extend gains

Global Ocean Logistics IPO Listing: Global Ocean Logistics shares made a lacklustre debut in the Indian stock market on Wednesday, December 24, listing at a mild premium over its initial public offering (IPO) price on BSE SME.

Global Ocean Logistics' share price was listed at ₹79.20 apiece, a 1.54% premium over its IPO price of ₹78. Soon after listing, Global Ocean Logistics' share price extended gains and hit the day's high of ₹82.40.

The debut of the Global Ocean Logistics IPO was marginally better than market expectations. Ahead of listing, the IPO was commanding a grey market premium (GMP) of ₹0, even as the SME issue witnessed strong investor demand during the subscription period.

Global Ocean Logistics IPO details

The issue, which was open for bidding from December 17 to December 19, was oversubscribed 13.64 times overall. The retail segment saw 11.90 times subscription, while the NII category was booked 29.47 times. The QIB portion attracted bids 4.77 times the shares on offer.

The ₹30.41 crore IPO comprised a fresh issue of 0.39 crore equity shares priced between ₹74 and ₹78 per share.

As the offering was entirely a fresh issue, the company intends to deploy the proceeds towards meeting its working capital requirements and for general corporate purposes.

Marwadi Chandarana Intermediaries Brokers acted as the book-running lead manager, and KFin Technologies was the registrar of the issue. The Market Maker of the company was Mansi Share & Stock Broking Pvt.Ltd.

Global Ocean Logistics India is a freight forwarding company that provides integrated, multi-modal logistics solutions. Its offerings include ocean freight forwarding, road and rail transportation, air freight forwarding, container freight station operations, customs clearance, and other allied logistics services. The company operates on an asset-light model, leveraging its network and operational capabilities instead of investing in heavy infrastructure.

Its operations span key Indian ports such as Nhava Sheva, Mundra, Hazira, Chennai, among others, with pan-India presence across more than 23 states and union territories. The company also runs marketing offices in Visakhapatnam, Jaipur, Pune, and Tuticorin. On the global front, it has managed shipments through 263 ports and processed nearly 25,000 bills of lading, underscoring its international footprint despite its relatively short operating history.

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