Om Freight Forwarders' IPO: A Successful Surge in Subscriptions
Om Freight Forwarders Ltd's initial public offering was oversubscribed 2.23 times on its second day. The Rs 122.3-crore IPO saw significant interest from non-institutional and qualified institutional investors, while retail investors subscribed to 91% of their allocation. The IPO is priced at Rs 128-135 per share.
- Country:
- India
The initial public offering of Om Freight Forwarders Ltd witnessed a robust response on its second day, with subscriptions reaching 2.23 times the available shares. The logistics and freight forwarding company attracted bids for 1,76,82,522 shares against the 79,16,945 shares on sale, according to the National Stock Exchange.
The segment targeting non-institutional investors garnered the most attention, achieving a subscription rate of 4.70 times. Qualified Institutional Buyers were not far behind, subscribing to the shares 3.95 times. Retail Individual Investors contributed with a 91% subscription to their allocated portion.
The IPO includes a fresh issue worth Rs 24.43 crore alongside an offer for sale of up to 72,50,000 shares, with the price range set between Rs 128-135 per share. Smart Horizon Capital Advisors serves as the lead manager for the offer.
(With inputs from agencies.)
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