Om Freight Forwarders Announces IPO: Price Band Set at Rs 128-135
Om Freight Forwarders, a Mumbai-based logistics company, has set its IPO price band at Rs 128-135 per share. The IPO, totaling Rs 122.31 crore, includes a fresh issue of Rs 24.44 crore and an offer for sale of Rs 97.88 crore. The company operates across five continents, serves over 700 locations, and owns 152 commercial vehicles. Its recent financial performance shows a 17% increase in revenue to Rs 494.05 crore and more than doubled profit after tax at Rs 21.99 crore. The IPO opens on September 29 and closes on October 3, with listing scheduled for October 8 on BSE and NSE.
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Om Freight Forwarders, a Mumbai-based logistics company, has announced its Initial Public Offering (IPO) with a price band set at Rs 128-135 per share. The IPO is scheduled to open for subscription on September 29 and will close on October 3.
IPO Details
The IPO comprises a total of Rs 122.31 crore, which includes:
- A fresh issue of Rs 24.44 crore
- An offer for sale of Rs 97.88 crore by existing shareholders
For retail investors, the minimum investment required is Rs 14,985 at the upper price band.
Company Overview
Om Freight Forwarders is a logistics company with a significant presence in the industry:
- Operations across five continents
- Serving over 700 locations
- Owns a fleet of 152 commercial vehicles
Financial Performance
The company has shown strong financial growth:
- Revenue: Rs 494.05 crore (up 17%)
- Profit After Tax: Rs 21.99 crore (more than doubled compared to the previous fiscal year)
Use of Proceeds
The funds raised from the fresh issue will be utilized as follows:
- Rs 17.15 crore for acquiring commercial vehicles and heavy equipment
- The remaining for general corporate purposes
IPO Timeline
| Event | Date |
|---|---|
| Subscription Opens | September 29 |
| Subscription Closes | October 3 |
| Listing Date | October 8 |
Listing Venues: BSE and NSE
Investors interested in the logistics sector may consider this IPO, keeping in mind the company's growth trajectory and expansion plans. As always, it is advisable to review the company's prospectus and consult with financial advisors before making investment decisions.
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