Om Freight Forwarders Share Price Slumps 40% In Stock Market Debut
The Om Freight Forwarders IPO was a book-built issue of Rs 122.31 crore. It comprised a fresh issue of 18 lakh shares to raise Rs 24.44 crore and an offer-for-sale component of 73 lakh shares worth Rs 97.88 crore.
Among the promoters, Rahul Jagannath Joshi, Harmesh Rahul Joshi and Kamesh Rahul Joshi sold shares.
The IPO was subscribed 3.88 times on the final day. The public issue was subscribed 2.77 times in the retail category, 3.97 times in the QIB category, and 7.39 times in the NII category.
The proceeds received from the fresh issue of up to Rs 16.64 crore will be utilised towards funding the capital expenditure requirements of the company, including acquisition of commercial vehicle and heavy equipment and for general corporate…
