New Delhi, Mar 24 (KNN) Paradeep Parivahan shares made a muted debut on the BSE SME platform, listing at a 20 percent discount compared to its issue price, on Monday.
The stock continued its downward trajectory, reaching a low of Rs 74.48 per share on the BSE, marking a 24 percent decline. The company’s market valuation currently stands at Rs 127.03 crore.
Investors who participated in the Paradeep Parivahan initial public offering (IPO) incurred losses of approximately Rs 23,520 per lot based on the issue price of Rs 78.40 per share.
The IPO had been offered within a price band of Rs 93-98 per share, with a lot size of 1,200 shares. Despite receiving a subscription rate of 1.78 times, the market response has been lukewarm. The company had initiated the public offering to raise funds for working capital requirements and general corporate purposes.
Based in Paradip Port, Odisha, Paradeep Parivahan operates as a comprehensive third-party logistics service provider.
The company offers end-to-end solutions in the logistics and supply chain domain, encompassing multimodal transport operations, container and sea transportation services, warehousing facilities, custom clearance services, and handling of project cargo.
(KNN Bureau)
