Paradeep Parivahan shares listed on the BSE SME platform on Monday at a 20 percent discount against its issue price. The stock declined further to a low of Rs 74.48 per share on the BSE, down 24 percent. The market valuation of the company stood at Rs 127.03 crore.
The investors who applied to the issue of Paradeep Parivahan suffered a loss of Rs 23,520 per lot at an issue price of Rs 78.40 apiece. The price band for the offer was Rs 93 - 98 per share with a lot size of 1,200 shares. The IPO was subscribed 1.78 times. The issue aimed to raise funds to meet working capital requirements and for general corporate purposes.
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.
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