Ashapura Logistics IPO: Investors responded well to the initial public offering, which opened for subscription on July 30, 2024, as it was subscribed 183.75 time times by Day 3.
By 5.10 PM on 1 August 2024 the IPO for Ashapura Logistics was subscribed 183.75 times as per Chittorgarh.com. The public issue received 170.27 times subscription in the retail category, 128.23 times in the QIB category, and128.23 times in the NII category.
The Ashapura Logistics initial public offering (IPO), which started for subscription on July 30, 2024, ends on August 1, 2024. It is expected that the allocation for the Ashapura Logistics IPO will be finalized on Friday, August 2, 2024. The initial public offering (IPO) of Ashapura Logistics is scheduled to go live on the NSE SME on Tuesday, August 6, 2024.
The price band for Ashapura Logistics' IPO stood at ₹136 to ₹144 per share. Retail investors were to invest a minimum of ₹144,000, since an application was to be made for minimum of 1000 shares which happened to be the lot size. However for HNI, since they were to apply for minimum two lots, the minimum requirement doubled to ₹288,000.
The ₹52.66 crore book building issue of Ashapura Logistics consisted of a fresh issue of 36.57 lakh share . There was no OFS component.
Ashapura Logistics intends to use part of proceeds from funds raised to purchase trucks and associated equipment, and meeting working capital requirements. It will also use the IPO proceeds to finance the construction of warehouses at the Gujarati site in Mundra, and will use a portion of the funds for general company purposes
The Ashapura Logistics IPO GMP has been rising steadily following strong repsonse and stood at +150 on Thursday from +140 on Wednesday and +95 on Tuesday as per investorgain.com. This indicates that Ashapura Logistics's share price was being sold for a premium of ₹ 150 in the Grey market.
The expected listing price for the Ashapura Logistics thereby stands at ₹294 per share, is 104.17% higher than the IPO price of ₹144, arrived at by adding the present premium in the grey market and the upper end of the Ashapura Logistics IPO pricing band.
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