Logistics solutions provider PDP Shipping & Projects' initial share sale has managed to sail through on March 12, the last day of bidding amid subdued market conditions.
The issue was subscribed 1.01 times with investors bidding 9.47 lakh equity shares compared to the offer size of 9.37 lakh shares via 856 applications, the subscription data on the BSE showed.
Retail investors remained at the forefront to support the IPO since the first day of bidding, buying 1.87 times their allotted quota. Non-institutional investors picked 24.9 percent shares of their reserved portion.
PDP Shipping is set to finalise the IPO share allotment by March 13, while investors can start trading in its shares on the BSE SME effective March 18.
Click Here To Read All IPO News
The Navi Mumbai-based global cargo transportation services provider entered capital markets to raise Rs 12.65 crore via public issue at a price of Rs 135 per share.
The IPO funds will be utilised majorly for its long-term working capital requirements, and the remainder for general corporate purposes.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
