Tejas Cargo India IPO booked 1.22 times on Day 3, shares allotment on Feb 19; here’s how to check status online

Tejas Cargo India IPO allotment status is expected to be finalised on Tuesday, February 18, following the end of the bidding period. The NSE SME issue was fully subscribed on the last day of bidding led by the Non-Institutional Investors (NIIs).

The initial public offering of the logistics company opened on February 14 but witnessed sluggish demand from investors in the initial two days of subscription. Finally, the SME issue sailed through on the last day. The company aims to raise ₹105.84 crore from the primary market through its IPO.

The NSE SME issue received bids for more than 5.61 lakh shares against 42.09 lakh shares on offer, leading to an overall subscription of 1.22 times on Day 3.

The Non-Institutional Investors (NIIs) fully booked their segment with bids for 12.68 lakh shares against the allocation of 8.88 lakh shares. The retail portion of the IPO was booked 1.09 times. The retail investors applied for 22.68 lakh shares compared to 20.72 lakh shares set aside for them.

The Qualified Institutional Buyers (QIBs), on the other hand, booked their quota 1.33 times. The QIBs placed bids for over 15.78 lakh shares against 11.84 lakh shares on offer. The Employees segment of the IPO received bids for 46,400 shares.

The IPO investors awaiting the finalisation of the company's share allotment can verify the details on the NSE website. The IPO allotment status can also be checked on the portal of the issue registrar, Bigshare Services Pvt Ltd.

Steps to check Tejas Cargo India IPO allotment status on NSE

• Visit the NSE IPO allotment status page here: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Select ‘equity and SME IPO bid details’ from the two options
• Choose Tejas Cargo India Limited from the list of IPO names
• Enter the Application Number and PAN details
• Click on ‘Submit’ to view the share allocation details

Allotment status on Bigshare Services:

• Open the IPO allotment status page on the official website of the issue registrar at: https://www.bigshareonline.com/ipo_allotment.html
• Choose any of the server links from 3 options
• Select Tejas Cargo India Limited from the drop-down menu for company names.
• Choose any of these- PAN, Application Number, DP ID, or Account Number.
• Enter the relevant details for verification.
• Click on the ‘Submit’ button.

Please note that the IPO allotment status will be available only after the company completes the share allocation process.

Tejas Cargo India IPO key details

• Tejas Cargo India IPO comprised exclusively a fresh issue of 63 lakh shares, worth up to ₹105.84 crore. It did not include any offer-for-sale (OFS) component.
• The IPO price band was fixed at ₹160 to ₹168 per share. The minimum lot size was 800 shares.
• New Berry Capitals Private Ltd is the book-running lead manager of Tejas Cargo India IPO. New Berry Capitals Private Ltd is the market maker for the said IPO.
• Refunds are likely to be processed on Thursday, February 20, and shares will be credited to allottees' demat accounts on the same day.
• The company has proposed to list its shares on the NSE on Monday, February 24.

About Tejas Cargo India and use of IPO proceeds

Tejas Cargo India Ltd, founded in March 2021, is a logistics services provider. The Faridabad-based company provides supply chain transportation services by road across India, offering express road transportation services under Full Truck Load (FTL) to companies in logistics, steel, e-commerce, FMCG and white goods manufacturing sectors.

The company plans to use the IPO proceeds for purchasing additional trailers, meeting working capital needs, repayment of debt and for general corporate purposes.

As of September 30, 2024, Tejas Cargo India’s revenue from operations stood at ₹252.6 crore, while net profit was at ₹8.74 crore. In the financial year ended March 31, 2024 (FY24), the company’s revenue from operations was reported at ₹419.32 crore, and PAT at ₹13.22 crore.

Key performance indicators (FY24)