Paradeep Parivahan IPO booked 10% on Day 1: Check price band, issue size & more

The initial public offering of port logistics services provider Paradeep Parivahan Ltd opened to weak demand from investors on Monday, March 17. The BSE SME issue was overall booked only 10%.

Paradeep Parivahan IPO subscription will close on Wednesday, March 19.

According to the BSE data, the ₹44.86-crore IPO attracted applications for over 2.85 lakh shares against the net issue size of 27.87 lakh equity shares.

The retail investors placed applications for more than 1.56 lakh shares against the allocation of 13.93 lakh shares. The retail portion was booked only 18% on the first day. The Non-Institutional Investors (NIIs) submitted bids for only 28,800 shares against 5.97 lakh shares on offer. The NIIs booked 4% of their allocated quota.

No bids were received from Qualified Institutional Buyers (QIBs) on the first day against 7.96 lakh shares set aside for them.

Ahead of the launch of the IPO, the company raised ₹11.69 crore from anchor investors on Thursday, March 13. The company allotted 11,92,800 equity shares at a price of ₹98 per share to nine fund schemes.

Paradeep Parivahan IPO details

Paradeep Parivahan IPO is a fresh issue of 45.78 lakh shares aimed at raising a total of ₹44.86 crore. The company has fixed the price band at ₹93 to ₹98 per share for the IPO. The minimum lot size is 1,200 shares. The minimum investment amount is ₹1,11,600 for retail investors.

Paradeep Parivahan IPO key dates

The subscription window for the Paradeep Parivahan IPO will close for bidding on March 19. The IPO share allotment status is expected to be finalised on Thursday, March 20. The company is scheduled to start the transfer of shares to the Demat accounts on March 21. Refunds will also be issued for unsuccessful bidders on the same day.

The IPO listing date has been tentatively fixed at Monday, March 24. Shares of the company will be listed on the BSE SME platform.

Paradeep Parivahan IPO objective

Paradeep Parivahan Ltd specialises in port operations, cargo handling and intra-port transportation. It also provides logistics support in handling and transportation of import cargo within the Paradeep port in Odisha.

The company also offers services for in-plant shifting of bulk raw materials and hazardous cargo, crusher operations, railway siding operations, special attention cargo handling and earthwork, among others.

The company has also formed a partnership with cooperative major IFFCO for heavy machinery services and raw material processing within their plant. The company operates from the premises of the Paradeep Port.

The company has proposed to use ₹35 crore of IPO proceeds to meet its working capital requirements and the rest for general corporate purposes.

Paradeep Parivahan reported revenue from operations of ₹137.5 crore for the April-September period of FY 2024-25. It had reported revenue of ₹211.26 crore in FY24 against ₹202.47 crore in FY23.

The company reported PAT of ₹5.17 crore for April-September FY25. Its net profit was ₹15.02 crore in FY24 compared to ₹6.55 crore in FY23.