Decent listing: BLT Logistics shares list at 21% premium to SME IPO price

(Representative image)

The shares of BLT Logistics made a decent market debut on August 11, listing at Rs 90.95 apiece on the BSE SME platform. This marks a premium of 21.27 percent over the IPO price of Rs 75 apiece.

The listing premium is however lower than grey market estimates. Ahead of listing, the unlisted shares of the company were trading with a grey market premium (GMP) of more than 33 percent over the IPO price at Rs 100 apiece.

After the listing, the shares jumped another 5 percent to hit the upper circuit at Rs 95.49 apiece. The stock is currently up more than 27 percent from its IPO price of Rs 75 per share. Its market capitalisation stands at around Rs 46 crore, as seen at 10.15 am.

The company had approached the capital markets to raise Rs 9.72 crore through a fresh issue of nearly 12.96 lakh shares. The IPO attracted strong investor interest during its three days of public bidding, being subscribed a whopping 504 times its offer size between August 4 and August 6 at a price band of Rs 71-75 per share.

Investors could apply for a minimum of 1,600 shares, requiring an investment of Rs 1.2 lakh, and in multiples thereafter. The allotments were finalized on August 7.

Also read: Essex Marine shares list at 20% discount to SME IPO price

BLT Logistics is associated with the surface transportation of goods in containerized trucks and warehousing services to various industries and businesses.

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