Ashapura Logistics IPO day 2: Check subscription status , GMP rises, key dates and all you need to know

Ashapura Logistics IPO: The Initial Public offering that opened for subscription today i.e 30 July' 2024 received a good response from investors being subscribed 15.82 times on Day 2.

Ashapura Logistics IPO subscription status

The IPO for Ashapura Logistics was subscribed 15.82 tines by 5 PM on 31 July, 2024 as per Chittorgarh.com. The public issue received 25.96 times subscription in the retail category, 2.70 times in the QIB category, and 9.71 times in the NII category.

Ashapura Logistics IPO key dates : Ashapura Logistics IPO that opened for subscription on 30 July , 2024 and closes will be available for subscription by investors till 1st August , 2024. The Ashapura Logistics IPO is anticipated see finalisation of allocation on Friday, 2nd August, 2024. The proposed listing date for the Ashapura Logistics initial public offering (IPO) is Tuesday, 6 August, 2024, on the NSE SME.

Ashapura Logistics IPO application details -

The price range for Ashapura Logistics' IPO stands at ₹136 to ₹144 per share. Since an application must have a minimum lot size of 1000 shares, the retail investors are needed to invest a minimum of ₹144,000. HNI minimum requirement however doubles since they need to apply for 2 lots

Ashapura Logistics IPO Key objectives

Ashapura Logistics IPO is a book built issue of ₹52.66 crores with the issue comprising entirely a fresh issue of 36.57 lakh shares.

Ashapura Logistics needs to raise capital funds in order to buy trucks (Vehicles) and related equipment . It ill use the proceeds of the IPO for building of warehouses at the Gujarati facility in Mundra and financing increased need for working capital as well as some part for general corporate purposes

Ashapura Logistics IPO Grey Market Premium or GMP

The Ashapura Logistics IPO GMP that was at +95 on Tuesday rose to +140 on Wednesday as per investorgain.com. This indicates that Ashapura Logistics's share price was being sold for a premium of ₹ 140 on the Grey market.

The expected listing price thereby at ₹284 per share, is 97.22% higher than the IPO price of ₹144, determined considering the upper end of the by Ashapura Logistics IPO pricing band and the current premium in the grey market.

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