Committed Cargo Care shares list with 6.5% premium at ₹82 apiece on NSE SME
- Committed Cargo IPO was an SME IPO that opened for subscription on October 06 and closed on October 10. The company raised ₹24.95 crore from the public issue, which was completely a fresh issue of 32,40,000 equity shares and there was no offer for sale (OFS) component.
Committed Cargo Care IPO Listing: Committed Cargo Care Ltd shares made a decent Dalal Street debut on Wednesday. The shares of the third party logistics provider Committed Cargo Care were listed at ₹82.00 apiece on NSE SME, a premium of 6.49% to the issue price of ₹77.00 per share.
Committed Cargo IPO was an SME IPO that opened for subscription on October 06 and closed on October 10. The company raised ₹24.95 crore from the public issue, which was completely a fresh issue of 32,40,000 equity shares and there was no offer for sale (OFS) component.
Committed Cargo Care IPO price band was set at ₹77 per share and the issue received strong response from investors.
The IPO allotment was finalised on October 13.
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The IPO was subscribed 87.78 times in total as the issue received bids for 26.99 crore equity shares as against 32.40 lakh shares offered.
Committed Cargo IPO was subscribed 78.73 times in the retail category and 94.20 times in Other category.
The company plans to use the net proceeds from the offering to fund working capital requirements; and general corporate purposes.
The main purpose of the working capital will be to increase the company's present activities. The company stated in its RHP that it expects a boost in profitability as a result of funding its company's working capital needs.
Fedex Securities Private Ltd is the book running lead manager to the issue, and the IPO registrar is Bigshare Services Private Ltd.
Committed Cargo Care Ltd is a third party logistics provider that specializes in handling import and export cargo. It provides integrated logistics services such as cargo management solutions, international freight management, customs and cross-border movement, etc.
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