Jayesh Logistics IPO Continues to See Healthy Interest from Investors on Day 2
Logistics and supply chain management solutions company Jayesh Logistics’ initial share sale continued to garner healthy interest from investors even on the second day of bidding, October 28. The Rs 28.63-crore initial public offering (IPO), which consists of entirely fresh issue of 23.47 lakh shares, was subscribed 7.74 times during October 27-28 with investors bidding 1.38 crore equity shares against the offer size of 17.91 lakh shares via 3,529 applications.
Subscription Details
Retail and non-institutional investors continued bidding for the offer on day 2, but there were no bids from qualified institutional buyers on the second day as their subscription was unchanged at 5.02 times their allotted quota on Tuesday. Non-institutional investors picked 16.39 times and retail 7.14 times their reserved portions in the last two days.
Kolkata-based Jayesh Logistics on October 24 has raised Rs 6.78 crore of its offer size, through anchor book of 5.56 lakh shares at upper end of price band of Rs 116-122 per share. To know more about IPO news, visit our website.
Company Overview
The company that primarily provides freight services (using road transportation like trucks and railways) and non-freight services (like loading and unloading, truck on hire, custom clearance, and machinery on hire) through its in-house fleet of 95 heavy material and cargo handling trucks intends to utilise IPO proceeds mainly for purchase of side wall trailers, working capital requirements, and implementation for phase 2 of Smart Logistics Application.
The remainder funds will be utilised for its general corporate purpose. For more information on Logistics and Supply Chain Management, click here.
IPO Schedule
The offer subscription will remain open till October 29, followed by the IPO share allotment finalisation on October 30. Jayesh Logistics will make its market debut on the NSE Emerge on November 3. To stay updated with the latest Indian stock market news, follow our blog.
Should You Invest in Jayesh Logistics IPO?
Before making an investment decision, it’s essential to evaluate the company’s financials, management team, industry trends, and growth prospects. You can visit our website to learn more about how to invest in IPO and make informed decisions.
Conclusion
Jayesh Logistics’ IPO has seen strong interest from investors, but it’s crucial to assess the company’s potential and risks before investing. Stay tuned for more updates on the Indian stock market and IPO news. You can also learn about Indian stock market tips and stock market analysis on our website.