Paradeep Parivahan share price makes a weak debut, stock opens with 20% discount at ₹78.40 apiece on BSE SME

Paradeep Parivahan share price made a weak debut on BSE SME today. Paradeep Parivahan share price today opened at ₹78.40, which is 20% lower than the issue price of ₹98.

Paradeep Parivahan IPO opened for subscription on Monday, March 17, and closed on Wednesday, March 19. Paradeep Parivahan IPO price band was fixed in the range of ₹93 to ₹98 per equity share of face value of ₹10 each. Bids could be made for a minimum of 1,200 equity shares and in multiples of 1,200 equity shares thereafter. Paradeep Parivahan IPO subscription status was 1.78 times, on day 3, chittorgarh.com

The firm offers a diverse array of solutions within the logistics and transportation sector as a Multi-Modal Transport Operator (MTO), emphasizing air and sea freight, customs clearance, and various added-value logistics services.

Recognized as an Authorised Economic Operator (AEO), it provides all-encompassing logistics solutions and possesses a license from the Directorate General of Shipping in India to operate as both an MTO and a Customs Broker, sanctioned by Mumbai Customs under the Department of Revenue of the Government of India.

The firm manages global cargo transportation, accommodating a variety of shapes, sizes, and weights via sea, air, road, rail, coastal barges, or through integrated transportation methods.

As per the Prospectus, the company's publicly traded competitors include Marinetrans India Ltd (with a P/E ratio of 76.36), S J Logistics (India) Ltd (with a P/E ratio of 26).

Paradeep Parivahan IPO details

Paradeep Parivahan IPO consists of a fresh issue of 45,78,000 equity shares, aggregating to ₹44.86 crore. There's no offer for sale (OFS) component.

The funds obtained from the offering, which is the total amount raised after deducting related expenses, are planned to be used for purposes such as partially covering long-term working capital needs and other general corporate functions.

Share India Capital Services Private Limited acts as the lead manager for the Paradeep Parivahan IPO, whereas Bigshare Services Pvt Ltd serves as the registrar for this offering. Share India Securities Limited is the market maker for the Paradeep Parivahan IPO.

Paradeep Parivahan IPO GMP today

Paradeep Parivahan IPO GMP today or grey market premium was ₹0, which meant shares were trading at their issue price of ₹98 with no premium or discount in the grey market according to investorgain.com

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

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.