PDP Shipping IPO subscribed 76% on Day 3 so far, retail portion fully booked. Check GMP, other key details
- PDP Shipping IPO opened for subscriptions on March 10 and closes today, March 12, with a price band of ₹135 per share. The subscription status is currently at 76%, with the retail portion oversubscribed at 1.39 times. The IPO aims to raise ₹12.65 crore.
PDP Shipping IPO: PDP Shipping & Projects IPO began accepting subscriptions on Monday, March 10, and will remain open until today, Wednesday, March 12. PDP Shipping IPO price band has been set at ₹135 per equity share, with a face value of ₹10 each. Investors can place bids for a minimum of 1,000 equity shares, with additional bids in multiples of 1,000 shares thereafter.
PDP Shipping delivers comprehensive solutions in the logistics and transport sector as a Multi Modal Transport Operator (MTO), including sea and air freight services, customs clearance, and additional value-added services within the logistics industry.
The company is recognised as an Accredited Authorized Economic Operator (AEO) and offers complete logistics services, holding licenses from the Directorate General of Shipping, Government of India, to function as an MTO and Customs Broker, as certified by Mumbai Customs, Department of Revenue of the Government of India.
The firm specializes in international freight forwarding and provides global door-to-door transportation solutions, along with expert services in project logistics, which encompass super heavy lift and Over Dimension Cargo (ODC) handling, roll on – roll off (RoRo) loadouts by floating and beaching, sea towing operations, sea fastening, and various engineering solutions for project cargo and transportation.
As per the prospectus, the company's listed peers are Marinetrans India Ltd (with a P/E of 76.36), S J Logistics (India) Ltd (with a P/E of 26.73), and Cargosol Logistic Ltd.
PDP Shipping IPO subscription status
PDP Shipping IPO subscription status is 76%, on day 3, so far. The retail portion was subscribed 1.39 times, and NII portion was booked 13%.
At 14:19 IST, the company has received bids for 6,78,00 shares against 8,90,001 shares on offer, according to data on chittorgarh.com
PDP Shipping IPO subscription status was 24%, on day 1, and the issue was booked 47% on the second bidding day.
PDP Shipping IPO details
PDP Shipping IPO worth ₹12.65 crore, consists of a fresh issue of 9,37,000 equity shares. There's no offer for sale (OFS) component.
PDP Shipping & Projects IPO plans to use the net proceeds from the issue for various purposes, including partially financing long-term working capital needs and covering general corporate expenses.
Sun Capital Advisory Services (P) Ltd serves as the book-running lead manager for the PDP Shipping IPO, and Kfin Technologies Limited acts as the issue's registrar. Rikhav Securities Limited is the market maker for the PDP Shipping IPO.
PDP Shipping IPO GMP today
PDP Shipping IPO GMP today or grey market premium was ₹0, which meant shares were trading at their issue price of ₹135 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.
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