Om Freight Forwarders share price: Stock debuts at nearly 40% discount on NSE; here's how much investors lost

On the BSE, the stock debuted at ₹82.50, down 38.89% from the issue price.

Om Freight Forwarders share price: Here's how much investors lost

The IPO, which sought to raise ₹122.31 crore, was a fresh issue of up to ₹24.43 crore and an offer for sale of ₹97.88 crore by promoters Rahul Jagannath Joshi, Kamlesh Rahul Joshi and Harmesh Rahul Joshi. . The price band was set at ₹128 to ₹135 per share.

Funds raised to the tune of ₹17.15 crore will be used for capital expenditure requirements related to the acquisition of commercial vehicles and heavy equipment. Around ₹4.08 crore will be used for general corporate purposes.

The initial public offering received 3.87 times subscription, as it secured bids for 3,06,06,030 shares compared to 79,16,945 shares on offer, according to consolidated details available with the NSE.

The quota reserved for non-institutional investors (NIIs) received a 7.39 times subscription, while the qualified institutional buyers' (QIBs) category got booked 3.97 times. The retail investors' part received 2.75 times the subscription.

Prior to the IPO, the company raised ₹15.9 crore in the anchor round from investors including Craft Emerging Market Fund – Citadel Capital Fund, Rajasthan Global Securities and Abundantia Capital VCC.

Mumbai-based Om Freight Forwarders Ltd is a third-generation logistics firm with over four decades of expertise. It operates across five continents, serving more than 700 locations. It offers international freight forwarding, vessel agency, transportation, customs clearance, warehousing, and distribution services.

Om Freight Forwarders financials