Committed Cargo Care Ltd IPO Increases with 6.5% Premium

On Wednesday, October 18, 2023, the shares of Committed Cargo Care Ltd reportedly started with a decent opening on Dalal Street. According to the reports, the shares of Committed Cargo Care Ltd were listed at Rs82 each share on NSE SME. The third-party logistics provider company opened with a premium of 6.49 percent against the issue price of the company’s share for Rs77 per share. In this article, we will share all the imperative details of the Committed Cargo Care IPO listing. To note, Committed Cargo Care opened for subscription on October 6, 2023, as an SME IPO and it closed on October 10, 2023. During this period of SME IPO, Committed Cargo Care share reportedly increased Rs24.95 crore from the public issue. You need to know more about the Committed Cargo Care IPO listing. Go through this article till the end. Drag down.

Committed Cargo Care Ltd IPO

As mentioned above, the Committed Cargo Care IPO was an SME IPO that started on October 6 for subscription and closed on October 10 during which the company’s IPO gained Rs24.95 crore from public issue from the fresh issue of 32,40000 equity shares with no offer for sale component (OFS). When Committed Cargo Care IPO was issued it opened with Rs77 per share which received a good response from the investors and closed at 82 apiece on NSE SME. Shift to the next section and read more details.

People familiar with the development said the IPO was finalized on the 13th of October. The Committed Cargo Care IPO was reportedly subscribed for a total of 87.78 times in which the investors bid for 26.99 crore equity shares as against 3240000 equity shares offered. In the retail category, the Committed Cargo Care IPO was subscribed 78.73 times and 94.20 times in the remaining categories. It is said that Committed Cargo Care is preparing to use the net proceeds of the offering to fulfill the cost of working operations and general corporate purposes. However, the purpose of the working capital is to increase the current activities. In its RHP, Committed Cargo Care stated that it is expecting a surge in profitability because of funding its company’s working capital requirements.

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Who is the IPO registrar of Committed Cargo Care? Bigshare Services Pvt. Ltd. is the registrar of the Committed Cargo Care IPO while Fedex Securities Pvt Ltd. is the book-running lead manager. Committed Cargo Care Ltd is a 3rd party logistics provider that specializes in handling import and export cargo.

Amzad Khan
Amzad Khan

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