The biggest breaking news in the market is here. Arvind and Company Shipping shares made an amazing stellar debut on NSE SME on 25th October 2023, Thursday. This news has been recently announced and this news is the biggest news of current time in the entire market. On NSE SME, Arvind and Company Shipping’s share price has been listed at Rs. 80 per share 77% higher than it was used at Rs. 45. Arvind and Company Shipping IPO worth Rs. 14.74 crore which does not have any offer for the sale component. And also the Arvind and Company Shipping IPO GMP at +18 which has showcased that there is a premium of Rs. 18 in the grey market right now. Read more to learn everything.
Arvind and Company Shipping share
According to the reports, The Arvind and Company Shipping Agencies IPO opened for subscription on 12th October 2023, Thursday, and then it closed on 16th October 2023, Monday. The price band of Arvind and Company Shipping IPO was set at the price of Rs. 45. Many investors have currently bid for a minimum of 3000 shares. The promoters of this company are Arvind Kantilal Shah, Vinit Arvin Shah, Chintan Arvind Shah, and Parul Arvin Shah. If we look at some details of the company the company’s worth is Rs. 14.74 crore. And is a new issue of 3,276,000 equity shares. Continue reading.
As per the Red Herring Prospectus (RHP). There is not any single offer-for-sale component. It has been reported that the proceeds from the new issue are going to be utilized for some specific purposes such as public issue expenses, general corporate purposes, and financing the company capital expenditures. Now Arvind and Company Shipping Agency have officially claimed that there is going to be flexibility over how to use the profits that are designated for the general corporate objectives so that it can support the expansion of the business. These plans have been made to invest Rs. 182,05 lakh in the general corporate objectives.
If we take a look at the total expenses of the issue they are around Rs. 190.15 lakhs. The amount associated with the underwriting and management fees, legal costs, listing costs, advertising costs, printing costs, and distribution costs. Arvind and Company Shipping Agencies IPO CMP today or rey market is of a premium at +18 which is similar to last three seasons. This has showcased that the company share price which is trading at a premium of Rs. 18 in the grey market today.