Om Freight Forwarders Faces Rough Market Debut
Om Freight Forwarders Ltd, a logistics company, witnessed a significant drop of nearly 40% in share prices on their debut. Starting at Rs 82.50 on BSE and Rs 81.50 on NSE, the shares fell below the issue price of Rs 135 despite the IPO receiving strong subscriptions. The company's market valuation stands at Rs 291.63 crore.
- Country:
- India
In a stark debut, shares of Om Freight Forwarders Ltd, a logistics and freight forwarding enterprise, plummeted nearly 40% over their issue price of Rs 135.
Trading commenced at Rs 82.50 on the BSE, marking a 38.88% drop, while the NSE saw the stock open at Rs 81.50, a 39.62% decrease.
The Initial Public Offering (IPO), despite being subscribed 3.87 times, faltered in early trading, putting the company's market value at Rs 291.63 crore.
(With inputs from agencies.)
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