Om Freight Forwarders' IPO Takes Off with Full Subscription on First Day

Om Freight Forwarders Ltd, a prominent player in the logistics and freight forwarding sector, witnessed a robust start to its initial public offering (IPO) as it garnered full subscription on Monday.

The IPO raised Rs 122.3 crore, with bids placed for 1,09,96,659 shares compared to the 79,16,945 shares available, achieving a 1.39 times subscription rate, as per the data from the NSE.

Notably, the portion allocated to non-institutional investors received 4.03 times the subscription, while qualified institutional buyers subscribed at 1.10 times, and the retail category at 54 percent. The IPO consists of a fresh issue worth Rs 24.43 crore and an offer for sale of up to 72,50,000 shares, priced between Rs 128-135 per share. Smart Horizon Capital Advisors served as the book-running lead manager for this offer.

(With inputs from agencies.)