Marinetrans India IPO subscribed 32 times on final day
by mydhanush on 5 December 2023, 3 min read
Marinetrans India IPO subscription opened on November 30 and will close on December 5. The IPO’s price band is set at Rs 26, with a minimum bid requirement of 4000 shares and multiples thereof. The face value of the equity shares is Rs 10 each. The issue price is 2.6 times the face value.
Marinetrans India IPO was subscribed 32.03 times. The public issue was subscribed 45.44 times in the retail category while NII portion was booked 17.91 times by 4:27 PM on December 5.
Valued at Rs 10.92 crore, the Marinetrans India IPO consists entirely of a fresh issue of 4,200,000 equity shares, with no offer for sale (OFS) component, as per the RHP (Red Herring Prospectus).
The company plans to deploy the funds raised from the IPO to address working capital requirements, manage general corporate expenses, and cover issue-related costs.
Marinetrans is a sea freight forwarding company. It evolved from a goods forwarder to providing door-to-door delivery and third-party logistics (3PL) services to the logistics sector.
Skyline Financial Services Private Ltd is the registrar for the Marinetrans India IPO. Swaraj Shares and Securities Private Limited is the book running lead manager.
Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.
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