PDP Shipping & Projects is making waves in the investment community with its initial public offering (IPO) that kicked off on March 10 and is set to conclude today, March 12. Investors are eagerly eyeing this opportunity, as the IPO is priced at ₹135 per equity share, with each share carrying a face value of ₹10. To participate, investors need to place a minimum order of 1,000 shares, with subsequent bids available in increments of 1,000 shares.
Overview of PDP Shipping’s Services
PDP Shipping stands out as a prominent player in the logistics and transportation sector, functioning as a Multi Modal Transport Operator (MTO). The company offers a wide array of services, including:
- Sea and air freight solutions
- Customs clearance
- Value-added logistics services
Recognized as an Accredited Authorized Economic Operator (AEO), PDP Shipping operates under licenses from the Directorate General of Shipping in India. Its credentials as a customs broker are certified by the Mumbai Customs, ensuring compliance with governmental regulations.
Expertise in Freight Forwarding
The firm is well-known for its proficiency in international freight forwarding and provides seamless global door-to-door transportation. Its specialized offerings include:
- Project logistics
- Super heavy lift handling
- Over Dimension Cargo (ODC) management
- Roll on – roll off (RoRo) loadouts
- Sea towing operations and engineering solutions
According to the company’s prospectus, its competitors in the market include Marinetrans India Ltd (P/E ratio of 76.36), S J Logistics (India) Ltd (P/E of 26.73), and Cargosol Logistic Ltd.
Current Subscription Status of the IPO
As of day three, the PDP Shipping IPO has reached a subscription status of 76%. The retail segment was subscribed 1.39 times, while the Non-Institutional Investors (NII) portion saw 13% uptake. As of 14:19 IST, bids totaled 678,000 shares, against an offering of 890,001 shares, as reported by chittorgarh.com.
- Day 1 Subscription: 24%
- Day 2 Subscription: 47%
Financial Details of the IPO
The PDP Shipping IPO aims to raise ₹12.65 crore and consists of a fresh issue of 937,000 equity shares. Notably, there is no offer for sale (OFS) component in this IPO. The funds raised will be allocated towards addressing long-term working capital needs and general corporate expenses.
Management of the IPO
Sun Capital Advisory Services (P) Ltd is spearheading the IPO as the book-running lead manager, while Kfin Technologies Limited takes on the role of registrar. The market-making responsibilities for the IPO have been entrusted to Rikhav Securities Limited.
Grey Market Insights
As for the grey market premium (GMP), it currently stands at ₹0, indicating that shares are trading at the issue price of ₹135, reflecting no premium or discount as per investorgain.com. This suggests a conservative outlook among investors regarding the stock’s immediate performance.
In summary, the PDP Shipping IPO presents a noteworthy investment opportunity in the logistics sector, backed by a robust business model and comprehensive service offerings. Investors should keep an eye on its performance as the subscription period wraps up today.
