Paradeep Parivahan IPO: Odisha-Based Firm Sees Low Investor Interest; Subscribed 36% on Day 2

The Paradeep Parivahan IPO, which opened for subscription on March 17, witnessed extremely low investor interest on the second day. Through this issue, the company aims to raise Rs 44.86 crore. It is a fresh issue of 45.78 lakh shares. On the first day of subscription, the IPO was subscribed 10%. The retail category saw an 18% subscription, while the non-institutional investor (NII) category was subscribed 5%.

On the second day, the subscription pace improved slightly compared to the first day but remained low overall. The IPO was subscribed 36% in total, with the retail category at 46%, the NII category at 25%, and the qualified institutional buyers (QIB) category at 26%.

Paradeep Parivahan IPO Details

IPO Type Issue Size: Rs 44.86 Crore

Shares Offered: 45.78 lakh equity shares with a face value of Rs 10 each.

Price Band: Rs 93 to Rs 98 per share.

IPO Opening Date: March 17, 2025.

IPO Closing Date: March 19, 2025.

Listing Date: Tentatively scheduled for March 24, 2025.

Approximately 50% of the public offering is reserved for QIBs, 35% for retail investors, and the remaining 15% for NIIs. According to market analysts, the grey market premium (GMP) for the Paradeep Parivahan IPO is currently nil, indicating no activity in the unlisted market.

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The IPO has a price band of Rs 93-98 per share, with a minimum lot size of 1,200 shares. The minimum investment required for retail investors is Rs 1,11,600. Paradeep Parivahan Limited is a port service provider specializing in logistics, ship rearing, and stevedoring at Paradip Port in Odisha.

The company plans to utilize the net proceeds from the IPO to meet working capital requirements and general corporate purposes.