Paradeep Parivahan’s Initial Public Offering (IPO) has officially opened for investors, commencing on March 17 and concluding today, March 19. With a price range set between ₹93 and ₹98 for each equity share, this offering is attracting attention in the logistics and transportation sector. Investors can place bids for a minimum of 1,200 shares, increasing in multiples thereafter.

Overview of Paradeep Parivahan

Paradeep Parivahan operates as a Multi-Modal Transport Operator (MTO), delivering an extensive array of logistics solutions. Their services encompass air and sea freight, customs clearance, and various value-added logistics offerings. The company is recognized as an Authorized Economic Operator (AEO) in India, which allows it to provide comprehensive logistics services while holding a license to operate as both an MTO and a Customs Broker.

• Key Services:
  • Air and sea freight
  • Customs clearance
  • Value-added logistics

This innovative company is equipped to handle global cargo transportation, catering to diverse shapes, sizes, and weights using various transportation modes, including sea, air, road, and rail.

Competitive Landscape

According to the company’s prospectus, Paradeep Parivahan faces competition from publicly listed firms such as Marinetrans India Ltd (P/E ratio of 76.36), S J Logistics (India) Ltd (P/E ratio of 26.73), and Cargosol Logistic. This competitive environment highlights the dynamic nature of the logistics market in which Paradeep operates.

Subscription Status

As of now, Paradeep Parivahan’s IPO subscription is at 1.19 times on the third day of bidding. Breakdown of the subscriptions includes:

• Retail portion: 1.17 times
• Non-Institutional Investors (NII): 1.38 times
• Qualified Institutional Buyers (QIBs): 1.08 times

At 15:09 IST, the company reported bids for 3,314,400 shares, surpassing the 2,787,600 shares available for sale, according to data from chittorgarh.com. The subscription rate was initially just 1% on the first day, increasing to 36% by the second day.

IPO Details

The Paradeep Parivahan IPO comprises a fresh issue of 4,578,000 equity shares, which translates to a total value of approximately ₹44.86 crore. Notably, there is no offer for sale (OFS) component in this IPO. The funds generated from this offering are earmarked for supporting long-term working capital requirements and other corporate initiatives.

• Lead Manager: Share India Capital Services Private Limited
• Registrar: Bigshare Services Pvt Ltd
• Market Maker: Share India Securities Limited

Current Grey Market Premium (GMP)

As of today, the Grey Market Premium (GMP) for Paradeep Parivahan’s IPO stands at ₹0, indicating that shares are trading at their issue price of ₹98 without any premium or discount, according to investorgain.com. This metric reflects the market’s current sentiment regarding the offering.

Overall, Paradeep Parivahan is making significant strides in the logistics sector, and this IPO could be a pivotal moment for the company and its investors. For further details on related offerings, consider checking out the Super Iron Foundry IPO and Allchem Lifescience, both making headlines in the investment community.