New Delhi: The PDP Shipping and Projects Initial Public Offering (IPO) has been a major topic of discussion in the market this week. The issue opened for investors on March 10th and the subscription window closed on March 12th. By the third day, the IPO had received 76% subscription, with retail investors showing the most significant interest.
PDP Shipping IPO Price Band and Issue Details
The total size of the PDP Shipping IPO is ₹12.65 crore, comprising a fresh issue of 9,37,000 equity shares. Notably, this IPO has no Offer For Sale (OFS) component; all shares are being issued by the company.
* Price Band: ₹135 per share
* Face Value: ₹10 per share
* Lot Size: Minimum bid of 1,000 shares
* Bid Multiples: In multiples of 1,000 shares
What does PDP Shipping do?
PDP Shipping is a multi-modal transport operator (MTO) company operating in the logistics and transportation sector. The company provides sea and air freight, customs clearance, and other logistics services.
* Holds MTO and Customs Broker licenses from the Indian Government's Directorate General of Shipping and Mumbai Customs.
* Expertise in international freight forwarding and door-to-door transportation solutions.
* Also active in project logistics, super heavy lift, over-dimensional cargo (ODC), and marine towing operations.
Subscription Status: Investor Interest
By the third day, the PDP Shipping IPO received 76% subscription, with retail investors showing the most interest.
* Retail Investors: 1.39 times subscribed
* Non-Institutional Investors (NII): 13% subscribed
* Day 1: 24% subscribed
* Day 2: 47% subscribed
* Day 3: 76% subscribed
The company received bids for 6,78,000 shares, while the offer was for 8,90,001 shares.
Use of Funds Raised from IPO
PDP Shipping will utilize the funds raised from this IPO for long-term working capital requirements and general corporate expenses.
Grey Market Premium (GMP)
The Grey Market Premium (GMP) reflects the unofficial demand for an IPO. However, the PDP Shipping IPO's GMP remains at ₹0. This indicates that the share is trading at its issue price of ₹135, and currently, there is no significant premium buying trend among investors.
