The shares of Iware Supplychain Services made a weak debut on Dalal Street on May 6, listing at Rs 85.05 per share on the NSE Emerge platform. This marks a discount of 10.47 percent from the SME IPO price of 95 per share.
The debut marks a strong divergence from the Rs 2 grey market premium with which unlisted shares of the company were trading ahead of its listing, as per data on Investorgain.
The Gujarat-based logistics company had received a decent response for its initial public offering from investors, being subscribed 2.86 times when it was open for subscription. Retail investors showed strong interest, subscribing their reserved portion 3.28 times. The portion set aside for non-institutional investors was booked 2.75 times.
Iware Supplychain Services had filed its IPO to raise Rs 27.13 crore via maiden public issue at a price of Rs 95 per share. These IPO proceeds (excluding offer expenses) will be utilised for the construction of new industrial shed, working capital requirements, and general corporate purpose, the company had said.
Also read: Our LIVE blog on Ather Energy's IPO
Incorporated in 2018, Iware Supplychain provides warehousing, transportation, rake handling services, and business auxiliary services in the states like Gujarat, West Bengal, Uttar Pradesh, Rajasthan, Punjab, Haryana, and Delhi.
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