Om Freight Forwarders IPO subscribed 1.3x on Day 1 amid strong investor demand; check latest GMP

Om Freight Forwarders IPO sees strong subscription on Day 1 of issue.

Om Freight Forwarders IPO witnessed strong investor interest on the first day of its share sale on September 29 and got fully subscribed. The company's public issue opened for public subscription on September 29 in a price band of Rs 128-135 per share. The Rs 122.31-crore public issue will conclude for subscription on October 3.

The issue received 1.39 times subscription on the Day-1 of bidding on Monday. The company's IPO got bids for 1.09-crore shares against 79.16 lakh shares on offer, according to NSE data. Earlier, the Logistics solutions provider mobilised Rs 15.9 crore from three anchor investors on September 26, a day before the IPO opening for public.

Om Freight Forwarders raises Rs 15.9 crore via anchor book ahead of IPO opens for public

Om Freight Forwarders IPO GMP Today Price

According to platforms tracking the grey market activities, the shares of Om Freight Forwarders are commanding a GMP of over 8 percent in the unregulated market. Investorgain quoted a GMP of Rs 11 for the shares of the company, indicating a listing gain of 8.15 percent.

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The Rs 17.1 crore of net fresh issue proceeds of the Mumbai-based firm will be used mainly for acquisition of commercial vehicle and heavy equipment, and the remainder funds for general corporate purposes, while the offer-for-sale money will be received by promoters.

Om Freight Forwarders IPO shares are expected to be allotted by October 6, while the listing is scheduled on October 8.

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