Marinetrans India IPO: Check latest GMP, subscription status on day 1, other key details
Marinetrans India IPO opens for subscription on Thursday, November 30, and will close on Tuesday, December 5. Marinetrans IPO ‘s price band is set at ₹26. Investors can bid for a minimum of 4000 shares and in multiples thereof. The face value of the equity shares is Rs10 each and the issue price is 2.6 times of the face value of the equity shares.
Marinetrans is a sea freight forwarding company. From its start as a goods forwarder, the business later grew to provide door-to-door delivery and third-party logistics (3PL) services to the logistics sector through unofficial agreements with service providers. The company offers a wide range of freight-related and transport management services to its clients, including freight forwarding, which handles both air and sea freight.
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Arunkumar Narayan Hegde and Tirah Kumar Babu Kotian are the company’s promoters.
The company’s listed peers are Cargosol Logistics Ltd (with P/E of 8.56), Cargotrans Maritime Ltd (with P/E of 12.54), AllCargo logistics Ltd with P/E of 13.88), and Total Transport Systems Ltd (with P/E of 35.66), as per Red Herring Prospectus (RHP).
Also Read: Marinetrans India IPO opens on November 30, price band set at ₹26 per share
Marinetrans India IPO details
Marinetrans India IPO, which is worth ₹10.92 crore, is completely a fresh issue of 4,200,000 equity share; there is no offer for sale (OFS) component, according to RHP.
The company plans to use the funds raised to pay for the following in order to meet its working capital needs, cover general corporate expenses, and pay for issue expenses in order to reap the benefits of being listed on the NSE Emerge Platform.
The registrar for the Marinetrans India IPO is Skyline Financial Services Private Ltd, and the book running lead manager is Swaraj Shares and Securities Private Limited. Nnm Securities is the market maker for the Marinetrans India IPO.
Marinetrans India IPO Subscription Status
Marinetrans India IPO subscription status is 86% on day 1. The issue received good response from retail investors who’s portion set was subscribed 1.59 times, and non-institutional buyers who’s portion was subscribed 14%, according to data on chittorgarh.com.
The company has received bids for 34,40,000 shares against 39,84,000 shares on offer, at 14:41 IST, according to data on chittorgarh.com.
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Marinetrans India IPO GMP today
Marinetrans India IPO GMP today or grey market premium was ₹0, which meant shares were trading at their issue price of ₹26 with no premium or discount in the grey market according to topsharebrokers.com
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Updated: 30 Nov 2023, 02:50 PM IST
