Logistics solutions provider Paradeep Parivahan has decided to hit Dalal Street with its maiden public issue on March 17. It intends to raise Rs 44.86 crore via offer that will close on March 19.
The IPO comprises of solely fresh issue of 45.78 lakh shares with no offer-for-sale component. The price band for the book-built issue has been fixed at Rs 93-98 per share.
The company will finalise the IPO share allotment by March 20. The trading in Paradeep Parivahan shares will commence on the BSE SME effective March 24.
Paradeep Parivahan based in Paradip Port, Odisha is a complete third-party logistics service provider, delivering end-to-end solutions in the logistics and supply chain domain involving multimodal transport operations, owning and operating container, sea and transportation, warehousing, custom clearance services and handling of project cargo.
The company that demands valuation of Rs 156 crore intends to utilise Rs 35 crore out of net IPO proceeds mainly for working capital requirements, and the remainder for general corporate purposes.
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Promoters hold 92.59% stake in Paradeep Parivahan, while investor Lalit Dua is the only public shareholder with 7.41% stake which was bought by him in February 2024 for Rs 5.04 crore via private placement.
The book running lead manager handling the public issue is Share India Capital Services.
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