BLT Logistics IPO listing: Shares of BLT Logistics were off to a solid start on Monday, August 11, as they listed at a healthy premium of 21% over the issue price on the BSE SME platform. BLT Logistics’ share price listed at ₹90.95, as against its initial public offering (IPO) price of ₹75, a premium of ₹15.95 or 21.27%.
BLT Logistics stock extended gains soon after listing and hit the 5% upper price band of ₹95.49.
The listing, though strong, was lower than expected. BLT Logistics IPO GMP (grey market premium) ahead of the debut stood at ₹25, signalling a listing pop of 33%.
BLT Logistics IPO
The company’s IPO, which was open for subscription from August 4 to August 6, witnessed a solid 560.69 times bids during this period.
The NII portion was subscribed the most at 1,017.63 times, followed by the retail quota that was booked 637.20 times, while the QIB portion received bids for 81.80 times.
BLT Logistics IPO was entirely a fresh share sale of 12.96 lakh shares, priced in the range of ₹71 to ₹75 apiece. The company was looking to raise ₹9.72 crore at the upper end of the price band.
The lot size for BLT Logistics IPO was 1600 shares and in multiples thereof. The individual investor needed to bid for at least two lots, requiring an investment of ₹2,27,200.
The company plans to use the funds raised for funding the capital expenditure requirement of the company towards the purchase of trucks and ancillary equipment, meeting working capital needs and general corporate purposes.
Beeline Capital Advisors Pvt Ltd is the book-running lead manager of the BLT Logistics IPO, while Skyline Financial Services Private Ltd is the registrar for the issue.
BLT Logistics, established in 2011, is a player in the Indian logistics industry. The company is engaged in providing surface transportation of goods in containerised trucks and warehousing services to various industries and businesses.
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