Om Freight Forwarders Ltd.'s Initial Public Offering (IPO) has garnered significant investor interest, achieving an oversubscription of 2.23 times on its final day. The IPO, which opened on September 29 and closed on October 1, saw investors bidding for 1,76,82,522 shares against the 79,16,945 shares on offer.

Subscription Details

The Rs 122.31 crore IPO comprises two components:

• A fresh issue of 18 lakh shares worth Rs 24.44 crore
• An offer-for-sale of 73 lakh shares valued at Rs 97.88 crore

Non-institutional investors showed particularly strong interest, with their category oversubscribed by 4.7 times.

Grey Market Performance

The grey market premium for Om Freight Forwarders remains flat at Rs 3. This indicates an estimated listing price of Rs 138 against the upper price band of Rs 135, suggesting potential gains of 2.22% per share.

Key Dates

• IPO Opening: September 29
• IPO Closing: October 1
• Expected Share Allotment: October 3
• Tentative Listing Date: October 7 (on BSE and NSE)

Company Overview

Om Freight Forwarders Ltd., founded in 1995, operates as an ISO-certified logistics firm. The company provides a range of services including:

• International freight forwarding
• Customs clearance
• Warehousing services

Subscription Table

This strong response from investors, particularly in the non-institutional category, indicates a positive market sentiment towards Om Freight Forwarders' public offering. The company's established presence in the logistics sector since 1995 and its diverse service offerings appear to have resonated with potential investors.

As the IPO process moves forward, all eyes will be on the share allotment on October 3 and the subsequent listing on October 7. The flat grey market premium suggests a cautiously optimistic outlook for the stock's debut on the BSE and NSE.

Om Freight Forwarders, a Mumbai-based integrated logistics solutions provider, has opened its Initial Public Offering (IPO) to raise Rs 122.32 crore. The company has set the price band for its shares at Rs 128-135, with the three-day issue set to close on October 3.

IPO Details

The IPO comprises a fresh issue of Rs 24.44 crore and an offer for sale of Rs 97.88 crore by existing shareholders. Investors can expect the listing of Om Freight Forwarders shares on October 8.

Grey Market Premium

The stock is currently trading at an 8% premium in the grey market, suggesting potential listing gains of Rs 11 per share. This indicates positive investor sentiment towards the company's market debut.

Company Overview

Om Freight Forwarders has established a significant presence in the logistics industry:

• Operations span across five continents with over 700 global locations
• Owns a fleet of 135 vehicles
• Handled 66.86 million metric tons of cargo

Financial Performance

The company has demonstrated strong financial growth:

Use of Proceeds

The fresh issue proceeds will be allocated as follows:

• Rs 17.15 crore for commercial vehicle and equipment acquisition
• The remainder for general corporate purposes

Investors interested in the logistics sector may find Om Freight Forwarders' IPO an opportunity worth considering, given its established operations and recent financial performance. However, as with all investments, it's crucial to conduct thorough research and consider personal financial goals before making any investment decisions.