Om Freight Forwarders Ltd. which launched its initial public offering (IPO) on Monday, September 29, will close for subscription on October 1. The IPO has been subscribed 2.42 times so far. Investors bid for 1,91,45,280 shares against the 79,16,945 on offer, according to BSE data on Wednesday.
Despite the interest in the IPO, the grey market premium for the mainboard issue has remained flat ahead of the subscription on day 3.
Here’s a look at the grey market premium (GMP) and other details of the Om Freight Forwarders IPO as subscription enters the final day.
Om Freight Forwarders IPO GMP Today
The GMP for Om Freight Forwarders IPO was Rs 7 as of 1:00 p.m. on October 1. With the upper end of the price band of Rs 135, the IPO’s estimated listing price is Rs 142 (cap price plus today’s GMP), implying an expected gain of about 5.19% per share.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
Om Freight Forwarders IPO: All You Need To Know
The Om Freight Forwarders IPO is a book-built issue of Rs 122.31 crore. It comprises a fresh issue of 18 lakh shares to raise Rs 24.44 crore and an offer-for-sale component of 73 lakh shares worth Rs 97.88 crore.
The IPO recieved 2x subscription, led by demand from Non-institutional investors who applied for 4.7 times the number of shares on offer.
The Om Freight Forwarders IPO’s price band has been set between Rs 128 and Rs 135 per share. The lot size for retail investors is 111 shares, requiring a minimum investment of Rs 14,985. For SNIIs, the lot size is 14 lots, or 1,554 shares, requiring Rs 2,09,790, while BNIIs can apply for 67 lots, or 7,437 shares, amounting to Rs 10,03,995.
Smart Horizon Capital Advisors Pvt. Ltd. is the book-running lead manager for the IPO, while Bigshare Services Pvt. Ltd. has been appointed as the registrar of the issue.
Om Freight Forwarders IPO Allotment And Listing Date
The share allotment for Om Freight Forwarders IPO is expected on October 3. Refunds and credit of shares to investors’ demat accounts are likely to happen on October 6.
The tentative listing date for the Om Freight Forwarders IPO is Tuesday, October 7. Shares of Om Freight Forwarders will be listed on the BSE and NSE.
Use Of Proceeds
Om Freight Forwarders Ltd. plans to utilise the net proceeds from its IPO primarily to fund capital expenditure, including the acquisition of commercial vehicles and heavy equipment. The remaining funds will be allocated for general corporate purposes.
About Om Freight Forwarders Ltd
Om Freight Forwarders Ltd. was founded in June 1995 and is an ISO-certified logistics company. It holds memberships with prominent industry bodies, including IATA, FIATA, WCA, GLPN, FFI, and MTO. The company focuses on technology-driven solutions, providing paper-free documentation, GPS tracking and real-time shipment monitoring. Its services span international freight forwarding, customs clearance, vessel agency operations, transportation, warehousing and distribution.
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