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Business News/ Markets / Ipo/  Arvind and Company Shipping shares make stellar debut, stock lists at 77% premium at 80 on NSE SME
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Arvind and Company Shipping shares make stellar debut, stock lists at 77% premium at ₹80 on NSE SME

Arvind and Company Shipping shares debut on NSE SME at ₹80/share, 77.77% higher than issue price. Arvind and Company Shipping IPO worth ₹14.74 crore with no offer for sale component. Arvind and Company Shipping IPO GMP at +18, indicating a premium of ₹18 in the grey market.

Arvind and Company Shipping Agencies IPO shares list on NSE SME today. (www.arvindshipping.com)Premium
Arvind and Company Shipping Agencies IPO shares list on NSE SME today. (www.arvindshipping.com)

Arvind and Company IPO listing date: Arvind and Company Shipping shares made a stellar debut on NSE SME today. On NSE SME, Arvind and Company Shipping share price today was listed at 80 per share, 77.77% higher than the issue price of 45.

Arvind and Company Shipping Agencies IPO opened for subscription on Thursday, October 12, and closed on Monday, October 16. Arvind and Company Shipping IPO's price band was set at 45.

Investors bid for a minimum of 3000 shares and in multiples thereof. The company's promoters are Arvind Kantilal Shah, Vinit Arvind Shah, Parul Arvind Shah, and Chintan Arvind Shah.

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Arvind and Company Shipping IPO details

Arvind and Company Shipping IPO, which is worth 14.74 crore, is completely a fresh issue of 3,276,000 equity share; there is no offer for sale (OFS) component, according to Red Herring Prospectus (RHP).

Also Read: Arvind and Company Shipping IPO opens on Thursday, issue price set at 45. Check GMP, review, other details

The proceeds from the fresh issue will be utilised for the following purposes: financing the company's capital expenditures, general corporate purposes, and public issue expenses.

In its RHP, the company stated that it would have flexibility over how to use the profits designated for general corporate objectives. To support the expansion of its business, it plans to invest 182,05 lakh in general corporate objectives.

The total expenses of the issue are estimated to be approximately 190.15 lakhs. Among the costs associated with this are the underwriting and management fees, printing and distribution costs, advertising costs, legal costs, and listing costs.

Also Read: Arvind and Company Shipping IPO: Check subscription status on day 3, GMP, review, other details

Arvind and Company Shipping Agencies IPO GMP today

Arvind and Company IPO GMP today or grey market premium is +18, similar to previous three sessions. This indicates Arvind and Company Shipping share price were trading at a premium of 18 in the grey market on Wednesday, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Arvind and Company Shipping Agencies share price was indicated at 63 apiece, which is 40% higher than the IPO price of 45.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Arvind and Company Shipping Agencies IPO allotment finalised today: Latest GMP, here's how to check allotment status

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.

 

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Published: 25 Oct 2023, 10:03 AM IST
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