Om Freight Forwarders IPO: Price band set at ₹128-135 per share; check key dates, issue details, more

Om Freight Forwarders IPO price band has been fixed in the range of ₹128 to ₹135 per equity share of the face value of ₹10. The Om Freight Forwarders IPO date of subscription is scheduled for Monday, September 29, and will close on Friday, October 3. The allocation to anchor investors for the Om Freight Forwarders IPO is scheduled to take place on Friday, September 26.

The floor price is 12.8 times the face value of the equity shares and the cap price is 13.5 times the face value of the equity shares. The Om Freight Forwarders IPO lot size is 111 equity shares and in multiples of 111 equity shares thereafter.

Om Freight Forwarders IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. The employee portion has been reserved 450,105 equity shares.

Tentatively, Om Freight Forwarders IPO basis of allotment of shares will be finalised on Monday, October 6 and the company will initiate refunds on Tuesday, October 7, while the shares will be credited to the demat account of allottees on the same day following refund. Om Freight Forwarders share price is likely to be listed on BSE and NSE on Wednesday, October 8.

Om Freight Forwarders IPO details

Om Freight Forwarders, a provider of third-party logistics, intends to secure funds through a fresh issue of ₹25 crore, along with an Offer for Sale (OFS) of up to 72.5 lakh shares from its promoters.

Om Freight Forwarders IPO aims to allocate the net proceeds from the offering for the following purposes: financing the capital expenditure needs of our company associated with the purchase of commercial vehicles and heavy machinery; and for general corporate purposes.

Smart Horizon Capital Advisors Pvt. Ltd. serves as the book running lead manager, while Bigshare Services Pvt. Ltd. is designated as the registrar for the issue.

Company details

Om Freight Forwarders Limited is a third-generation logistics firm located in Mumbai, India. With more than forty years of experience, it operates on five continents and services over 700 locations.

Om Freight is certified by ISO and is affiliated with various organizations, including IATA, FIATA, WCA, GLPN, FFI, and MTO.

The company focuses on integrating technology, providing paperless documentation, GPS tracking, and real-time monitoring of shipments.

It offers a range of services such as international freight forwarding, customs clearance, vessel agency, transportation, warehousing, and distribution.

As per the draft papers, the company's listed peers are Tiger logistics (India) Ltd (with a P/E of 3.87), Accuracy Shipping Ltd (with a P/E of 248.67), Total Transport Systems Ltd (with a P/E of 88.10), AVG Logistics Ltd (with a P/E of 9.38), and Patel Integrated Logistics Ltd (with a P/E of 15.53).

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