Supply chain solutions provider Blue Water Logistics will open its maiden SME public issue for subscription on May 27 with price band of Rs 132-135 per share.
The company is looking to raise Rs 40.5 crore via 30 lakh shares at the upper price band through the IPO, and the book-building issue will close on May 29.
It will finalise the IPO share allotment by May 30, and Blue Water Logistics shares will start trading on the NSE Emerge effective June 3.
Half of the net offer size is reserved for qualified institutional buyers, 35 percent of retail investors, and the remainder 15 percent shares for non-institutional investors.
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Incorporated in 2010, the Hyderabad-based logistics company, is seeking a valuation of Rs 148.5 crore. The IPO proceeds will be utilised for purchase of vehicles and its body building, working capital requirements, and general corporate purposes. The company operates through its five branch offices in Chennai, Delhi, Jaipur, Visakhapatnam and Thane.
Smart Horizon Capital Advisors will act as a sole book running lead manager for Blue Water Logistics IPO.
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