Marinetrans India IPO: Check latest GMP, subscription status on day 4, other key details

Marinetrans India IPO opened for subscription on Thursday, November 30, and will close on Tuesday, December 5. Marinetrans IPO 's price band is set at ₹26. Investors can bid for a minimum of 4000 shares and in multiples thereof. The face value of the equity shares is ₹10 each and the issue price is 2.6 times of the face value of the equity shares.

Marinetrans is a sea freight forwarding company. From its start as a goods forwarder, the business later grew to provide door-to-door delivery and third-party logistics (3PL) services to the logistics sector through unofficial agreements with service providers. The company offers a wide range of freight-related and transport management services to its clients, including freight forwarding, which handles both air and sea freight.

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Arunkumar Narayan Hegde and Tirah Kumar Babu Kotian are the company's promoters.

The company's listed peers are Cargosol Logistics Ltd (with P/E of 8.56), Cargotrans Maritime Ltd (with P/E of 12.54), AllCargo logistics Ltd with P/E of 13.88), and Total Transport Systems Ltd (with P/E of 35.66), as per Red Herring Prospectus (RHP).

Also Read: Marinetrans India IPO opens on November 30, price band set at ₹26 per share

Marinetrans India IPO details

Marinetrans India IPO, which is worth ₹10.92 crore, is completely a fresh issue of 4,200,000 equity share; there is no offer for sale (OFS) component, according to RHP.

The company plans to use the funds raised to pay for the following in order to meet its working capital needs, cover general corporate expenses, and pay for issue expenses in order to reap the benefits of being listed on the NSE Emerge Platform.

The registrar for the Marinetrans India IPO is Skyline Financial Services Private Ltd, and the book running lead manager is Swaraj Shares and Securities Private Limited. Nnm Securities is the market maker for the Marinetrans India IPO.

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Marinetrans India IPO Subscription Status

Marinetrans India IPO subscription status is 32.82 times on day 4. The issue received stellar response from retail investors who's portion set was subscribed 46.91 times, and non-institutional buyers who's portion was subscribed 18.03 times, according to data on chittorgarh.com. 

The company has received bids for 13,07,64,000 shares against 39,84,000 shares on offer, at 17:31 IST, according to data on chittorgarh.com.

Marinetrans India IPO subscription status was 1.59 times on day 1, and the issue was subscribed 3.55 times on day 2. Marinetrans India IPO subscription status on day 3 was 8.13 times.

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Marinetrans India IPO GMP today

Marinetrans India IPO GMP today or grey market premium is +3. This indicates Marinetrans India share price were trading at a premium of ₹3 in the grey market, 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 Marinetrans India share price is ₹29 apiece, which is 11.54% higher than the IPO price of ₹26.

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

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