SJ Logistics IPO Closes: Over 304 Times Subscription Received, Check GMP Today

SJ Logistics IPO: The initial public offering of SJ Logistics, a logistics and supply chain solutions and services provider, which was opened for public subscription on Tuesday, is closing on Thursday, December 14. The IPO is getting a whopping response from investors. Till 04:00 pm on the final day of bidding on Thursday, the Rs 48-crore SME IPO was subscribed about 304.23 times, receiving bids for 77,73,01,000 shares as against 25,55,000 shares on offer.

The category meant for non-institutional investors received 487.28 times subscription, while the quota for retail individual investors (RIIs) got subscribed 333.19 times. The qualified institutional buyers category has been subscribed 116.16 times.

The S J Logistics IPO was opened for public subscription on Tuesday, December 12, and will conclude today, Thursday, December 14. The IPO price was fixed at Rs 125 per share.

On the second day of bidding on Wednesday till 4 pm, the Rs 48-crore SME IPO was subscribed about 52.87 times.

SJ Logistics IPO GMP Today

According to market observers, unlisted shares of SJ Logistics (India) Ltd are currently trading Rs 120 higher in the grey market as compared with its issue price. The Rs 120 grey market premium or GMP means the grey market is expecting a 96 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

SJ Logistics IPO Details

The S J Logistics IPO is entirely a fresh issue of 38.4 lakh shares. Its price band was fixed at Rs 121-Rs 125 per share. The minimum lot size for an application is 1,000 shares. The minimum amount of investment required by retail investors is Rs 1,25,000.

The proceeds will be utilised towards repayment and/or pre-payment, in whole or part, of certain borrowings availed by the company; to meet working capital requirements; and for general corporate purpose.

Hem Securities Limited is the book-running lead manager of the S J Logistics IPO, while Maashitla Securities Private Limited is the registrar for the issue. The market maker for S J Logistics IPO is Hem Finlease.

Thane-based S J Logistics (India) Limited was incorporated in 2003. It provides logistics and supply chain solutions and services.

The company provides freight forwarding, customs clearance and transportation handling services to companies in the yarn and textiles, automobile, heavy engineering, power transmission, rubber tapes, pharmaceuticals, carpets, handicrafts and iron and steel products sectors.

Its profit after tax in the financial year 2022-23 stood at Rs 7.61 crore and its revenue during the year stood at Rs 135 crore.

(The headline and story have been updated with the latest GMP and subscription data till 4:00 pm)