⁠⁠Blue Water Logistics IPO Day 2: Check GMP, Subscription Status, Price Band And More

Blue Water Logistics Ltd. which launched its initial public offering (IPO) on May 27 was booked 1.28 times on Day 1. The demand for the SME issue was led by non-institutional and qualified institutional investors who subscribed for nearly 2 times the number of shares offered.

The company provides logistics and supply chain solutions. Its main services include freight forwarding, customs clearance and transportation handling.

As bidding for the SME IPO enters day 2, here's all you need to know about Blue Water Logistics IPO, including the latest GMP, subscription status, price band and more.

Blue Water Logistics IPO is a book-built issue worth Rs 40.5 crore, comprising a completely fresh issuance of 30 lakh equity shares.

The price band for the Blue Water Logistics IPO has been set between Rs 132 and Rs 135 per share.

Retail investors can apply for a minimum of 1,000 shares, amounting to a bidding value of at least Rs 1.32 lakh.

Of the 21,65,000 shares on offer, 5,59,000 (25.82%) are allocated to Qualified institutional investors, 4,40,000 (20.32%) are allocated to Non-Institutional investors, and 10,10,000 (46.65%) are allocated to Retail investors.

Smart Horizon Capital Advisors Pvt. is the book-running lead manager for the Blue Water Logistics IPO, with Maashitla Securities Pvt. serving as the registrar. Shreni Shares Ltd has been designated as the market maker for the NSE SME IPO.

The Blue Water Logistics IPO allotment status is expected to be finalised on May 30. This will be followed by the initiation of refunds to unsuccessful applicants and the transfer of shares to the Demat accounts of successful applicants on June 2.

The company’s shares are tentatively slated to be listed on the NSE SME platform on Tuesday, June 3.

The IPO has been subscribed 2.08 times as of 2:49 p.m. on Wedneday

• Qualified Institutions: 3.31 times

• Non-Institutional Buyers: 1.85 times

• Retail Investors: 1.49 times

The subscription status will be updated at regular intervals.

The latest grey market premium for the Blue Water Logistics SME IPO is Rs 0 recorded at 2:31 p.m. on Wednesday, May 28. With the upper end of the IPO’s price band fixed at Rs 135, the estimated listing price remains Rs 135, indicating a flat listing when the company lists on NSE SME on June 3.

Note: GMP is not an official source of data and is based on speculation.

Blue Water Logistics Ltd. offers end-to-end logistics solutions, including project logistics, supply chain management (SCM), and warehousing services across air, sea, and land routes. Its portfolio spans cargo pick-up, customs clearance, and final delivery.

The company operates five branches in Chennai, Delhi, Jaipur, Visakhapatnam, and Thane. It caters to a wide range of industries such as confectionery, chemicals, crockery, natural stones, textiles, electronics, and fitness equipment.

Blue Water Logistics Ltd. reported a revenue of Rs 196.29 crore for the financial year ended March 31, 2025, compared to Rs 138.74 crore in FY24. Its profit after tax rose to Rs 10.67 crore in FY25 from Rs 5.94 crore in the preceding financial year.

Use of IPO Proceeds

Blue Water Logistics plans to use the net proceeds from its IPO towards key business objectives. This includes buying and body-building of vehicles to support capital expenditure needs. A portion of the funds will be allocated to meet the company's working capital requirements, while the remaining amount will be used for general corporate purposes.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.