Tejas Cargo IPO, Day 2: Check GMP, Subscription, & Key Details

SME IPO of Tejas Cargo opened for bidding on Friday, Feb 14, 2025 and subscribed 0.32 times on day 1. The public issue has been subscribed 0.71 times on day 2 of bidding. It has been subscribed 0.67 times in the retail segment, 1.26 times in QIB category, and 0.08 times in the NII category on Feb 17, 2025, as per details available till 6:50 pm.

It operates in the logistic sector and plans to raise approximately Rs 106 crore via the public offer thus making it as one of the biggest SME IPOs of 2025. It is entirely a fresh issue of 63 lakh shares and the total size is valued at Rs 105.84 crore at the upper price band. The offer will remain open for bidding till February 18, 2025. The company seeks to use the IPO proceeds for purchase of extra trailers, meet the working capital requirements, debt repayment, and other general corporate purposes.

Tejas Cargo IPO, Day 2: Check Latest GMP, Subscription Status, & Key Details

Price Band

The price band has been fixed at Rs 160-Rs 168 per share.

Tejas Cargo GMP

The latest GMP or grey market premium of the IPO is 0, as per latest updates available. With the price band of Rs 168.00 per share, the IPO’s likely listing price is Rs 168 per share. The likely percentage of gain or loss per share is nil.

Tejas Cargo Allotment Details

The allotment of shares in the offer is likely to be finalised on February 19. The IPO will be listed on NSE SME with a precise listing date set as February 24, 2025. It is worth mentioning here that retail investors will be eligible to subscribe to Tejas IPO with a minimum lot size of 800, amounting to an investment of Rs 1,34,400. Meanwhile, the minimum lot size of the investment for HNI is 2 lots or 1600 shares amounting to Rs 2,68,800.

Book-Running Lead Manager

New Berry Capitals Private Limited is reportedly the book running lead manager of the IPO while the registrar of the issue is Bigshare Services Pvt Ltd. Its market maker is New Berry Capitals Private Limited. Meanwhile, the promoters of the company are Chander Bindal and Manish Bindal.

The logistic firm is based in Faridabad and offers long hail supply chain transportation services by road all over India.

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