Ashapura Logistics IPO: NSE SME issue closes with strong demand, booked nearly 186 times

Ashapura Logistics IPO subscription closed with a robust demand on the final and last day of bidding on Thursday, August 1. The initial public offering (IPO) of Ashapura Logistics Limited was booked 185.82 times.

The NSE SME issue received bids for over 45.24 crore shares against 24.34 lakh shares on offer.

Ashapura Logistics IPO was booked 289.72 times in the Non-Institutional Investors’ (NIIs) category. The NIIs placed bids for over 15.12 crore shares compared to the 5.22 lakh shares reserved for the category.

The retail portion of the public offer was booked 174.31 times with bids for over 21.19 crore shares against 12.16 lakh shares set aside for the category.

The Qualified Institutional Buyers (QIBs) applied for 8.92 crore shares compared to 6.96 lakh shares reserved for the category. Ashapura Logistics IPO was subscribed 128.22 times in the QIBs segment.

Ashapura Logistics IPO issue size and offer size

Ashapura Logistics IPO, valued at ₹52.66 crore, comprised an entirely fresh issue of 36.57 lakh shares.

Ashapura Logistics IPO price band was fixed at ₹136 to ₹144 per share. The minimum lot size for retail investors was a single lot of 1,000 shares, aggregating to an investment of ₹1,44,000.

Ashapura Logistics IPO dates

The NSE SME public issue was open for subscription from July 30 to August 1. After successful subscription, Ashapura Logistics IPO share allotment status is expected to be finalised on Friday, August 2.

Refunds for unsuccessful bidders will be initiated on Monday, August 5, and successful bidders will receive shares in their Demat accounts the same day. Shares of Ashapura Logistics are scheduled to get listed on the NSE SME platform, Emerge. Ashapura Logistics IPO listing date has been tentatively fixed as August 6.

About Ashapura Logistics Limited

Ashapura Logistics Limited was incorporated in 2009. The company is engaged in handling cargo and forwarding freight transportation, warehousing, distribution and other services. As of March 31, 2024, the company deployed 250 commercial trucks in its fleet. As of June 30, 2024, Ashapura Logistics Limited employed over 219 people.