Marinetrans India IPO opens for subscription on Thursday, November 30, and will close on Tuesday, December 5. The price band of Marinetrans IPO is set at ₹26. Investors can bid for a minimum of 4000 shares and in multiples of them. The face value of the equity shares is Rs10 each and the issue price is 2.6 times of the face value of the equity shares.
Marinetrans is an ocean freight forwarding company. From its beginnings as a freight forwarder, the business later grew to provide door-to-door delivery and third-party logistics (3PL) services to the logistics sector through informal agreements with service providers. The company offers a wide range of freight-related and transportation management services to its clients, including freight forwarding, which handles both air and sea freight.
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Arunkumar Narayan Hegde and Tirah Kumar Babu Kotian are the promoters of the company.
The company’s listed peers are Cargosol Logistics Ltd (with a P/E of 8.56), Cargotrans Maritime Ltd (with a P/E of 12.54), AllCargo logistics Ltd with a P/E of 13.88), and Total Transport Systems Ltd (with a P /E). of 35.66), according to Red Herring Prospectus (RHP).
Also Read: Marinetrans India IPO to open on November 30, price band set at ₹26 per share
Marinetrans India IPO details
Marinetrans India IPO, which is worth ₹10.92 crores, is a completely fresh issue of 4,200,000 equity shares; there is no offer for sale (OFS) component, according to RHP.
The company plans to use the funds raised to pay for the following to meet its working capital needs, cover general corporate expenses and pay publishing expenses to reap the benefits of being listed on the NSE Emerge Platform.
The registrar for the Marinetrans India IPO is Skyline Financial Services Private Ltd, and the book-running lead manager is Swaraj Shares and Securities Private Limited. Nnm Securities is the market maker for the Marinetrans India IPO.
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Marinetrans India IPO Subscription Status
Marinetrans India IPO subscription status is 86% on day 1. The issue has received a good response from retail investors, who’s share lot has been subscribed 1.59 times, and non-institutional buyers, whose share has been subscribed 14%, according to data on chittorgarh.com .
The company received bids for 34,40,000 shares against 39,84,000 shares offered, at 14:41 IST, according to data on chittorgarh.com.
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Marinetrans India IPO GMP today
Marinetrans India IPO GMP today or gray market premium was ₹0, which meant that shares were trading at their issue price of ₹26 without premium or discount in the gray market according to topsharebrokers.com
“Grey market premium” indicates the willingness of investors to pay more than the issue price.
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Updated: 30 Nov 2023, 14:50 IST