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Tejas Cargo IPO: Check Dates, GMP, Price Band, Subscription Status And More

The subscription window for Tejas Cargo IPO will remain open between Feb. 14 and Feb. 18.

<div class="paragraphs"><p>Shares of Tejas Cargo India Ltd. are proposed to be listed on the NSE SME platform on Feb. 24. (Photo source: Representative/Unsplash)</p></div>
Shares of Tejas Cargo India Ltd. are proposed to be listed on the NSE SME platform on Feb. 24. (Photo source: Representative/Unsplash)

Tejas Cargo India Ltd.'s initial public offering opened for bidding on Friday. The logistics company aims to raise nearly Rs 106 crore through the public offer in the primary market, making it one of the largest SME IPOs of the year. Those looking to subscribe to the offer must check out these key details before making an investment call.

Tejas Cargo IPO: Key Details

Tejas Cargo IPO is an entirely fresh issuance of 63 lakh shares offering shares at a price band of Rs 160 to Rs 168 apiece. The total offer size is valued at Rs 105.84 crore at the upper price band 

Retail investors can subscribe to the IPO with a minimum lot size of 800, resulting in an investment of Rs 1,34,400. 

The subscription window for Tejas Cargo IPO will remain open between Feb. 14 and Feb. 18. Allotment of shares in the offer is expected to be finalised on Feb. 19.

Credit of shares into the demat account of successful bidders will be done on Feb. 20. Refunds for the non-allottees will also be done on the same day. Shares of Tejas Cargo India Ltd. are proposed to be listed on the NSE SME platform on Feb. 24. 

New Berry Capitals Private Ltd. has been appointed as the sole running lead manager and the market maker for this SME issue whereas Bigshare Services Pvt. is its registrar.

Tejas Cargo IPO Subcription Status 

  • The Tejas Cargo IPO has been subscribed 0.17 times as of 4:30 p.m. on Friday.

  • QIBs: nil

  • NIIs: 0.03 times

  • Retail Investors: 0.34 times

*The subscription status will be updated at regular intervals

Tejas Cargo IPO GMP Today

The grey market premium for the Tejas Cargo IPO stood at Rs. 0 as of 4:00 p.m. on Feb. 14, according to InvestorGain. This indicates a possible flat listing for the IPO.

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

Tejas Cargo India Limited Business and Financials 

Faridabad-based Tejas Cargo India Ltd. is a logistics firm which offers supply chain transportation services.  The company caters to multiple sectors including logistics, steel, e-commerce, FMCG, and white goods with its express road transportation services under Full Truck Load (FTL). 

Its fleet includes over 1100 vehicles including more than 900 container trucks and  218 trailers

Use of Proceeds

Tejas Cargo has proposed to use the net proceeds from the IPO to buy trailers and fund its operational and working capital requirements. A section of the proceeds will be used to settle the company’s debts and general corporate purposes. 

Financials

Tejas Cargo India Ltd. generated a revenue of Rs 522.59 crore in FY24 with a net profit of Rs 13.22 crore. In the first alf of FY25, the company's revenue stood at Rs 255.09 crore with a net profit of Rs 8.75 crore. 

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.

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