Qualified institutional buyers (QIB) demanded, subscribing to their allotted quota 14.04 times. Non-institutional investors (NIIS) followed 9.87 times, while retail investors subscribed to 6.55 times their part. The issue of 40.50 crore closes on May 29, with the expectation of a list on the NSE SME platform on June 3.
GMP Signal Mute Debut
In the gray market, Blue Water Logistics stocks were not ordered as per the latest update, GMP was cited at zero. With a high price band set of IPO at Rs 135 per share, the estimated list price is also Rs 135 – the current gray market level does not indicate no benefit.
While the flat GMP reflects a short-term spirit, market observers suggest that if the demand for the post-allocation is improved or if the demand after allocation is strong, it can choose the list-day interest.
IPO structure and details
The IPO is a new issue of fully 3 lakh equity shares, which aims to raise Rs 40.50 crore. The price band has been fixed at Rs 132-1135 per share.
Retail investors can apply for at least 1000 stocks, which require an investment of Rs 1.35 lakh on the upper end. The allocation is expected to be finalized by May 30.
The income from this issue will be used to buy new commercial vehicles, working capital requirements and general corporate purposes.
Company profile and operation
Founded in 2010, Blue Water Logistics, Air, C and provide integrated logistics and supply chain solutions, including freight forward, customs clearance and transportation services through Routes.
With a fleet of five branches and 25 commercial vehicles across India, the company supports diverse customer in chemicals, electronics, textile and crockery sectors. It also has growing international measures in Africa, Singapore and the UAE.
Financial image
Blue water has shown strong top line and bottom-line growth. For the financial year 25, the company has jumped by 5% in revenue of 196.29 crore and an 80% increase in net profit 10.67 crore, reflecting operating petting leverage and scale benefits.
Key promise
The IPO is being managed by Smart Horizon Capital Advisors, which has Machine Securities as Registrar. Shreen’s shares are working as a market maker for this issue.
Most of the SME Like the ings furings, the delivery execution of investors’ interest and list in the final hours will determine the near -term influence of the stock.
Also Read: Skoda Tubes IPO subscribed to 5.5 times on 2 days, GMP increases by 13%. Details of the inquiry
(Disclaimer: The recommendations, suggestions, opinions and views given by experts are their own. This does not represent the views of the economic time)
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