Tejas Cargo IPO Itemizing: Listing 4% premium share of ₹ 168, then revenue lacking underneath promoting stress – INA NEWS
Tejas Cargo IPO Itemizing: The shares of Tejas cargo, which offer provide chain transportation providers, bought a premium entry on NSE SME at this time however then the shares had been damaged. Its IPO acquired an total 1.15 instances bid. Shares have been issued on the worth of Rs 168 underneath the IPO. Right this moment, it has entered NSE SM at Rs 175.00, that’s, IPO buyers bought a list acquire of 4.17 p.c. Nonetheless, the enjoyment of IPO buyers pale shortly when the shares broke. It broke to Rs 168.00 (Tejas Cargo Share Worth) and it was closed on this, that’s, on the finish of the primary enterprise day, IPO buyers will not be in revenue and losses.
Tejas Cargo IPO the way to spend
The ₹ 105.84 crore IPO of Tejas cargo was opened from 14-18 February for subscription. This total was subscribed to this total 1.15 instances. It had a share reserved for certified Institutional Consumers (QIB), 1.33 instances, a share of non-institutional buyers (NII) 1.07 instances and retail buyers had been full of 1.09 instances. Beneath this IPO, 63 lakh new shares with face worth of Rs 10 have been issued. The corporate will use the cash collected via these shares to purchase extra trailers, pay loans, meet the wants of working capital and customary company functions.
About Tejas Cargo
Tejas cargo, in-built March 2021, is a logistics firm primarily based in Haryana. It gives provide chain transportation providers by street throughout the nation. In line with knowledge as much as October 2024, its fleet has 913 container vans, 218 trailers. The truck is a median of three.4 years previous and the trailer 0.7 months previous. Speaking concerning the monetary well being of the corporate, it acquired a internet revenue of Rs 13.22 crore in FY 2024 and Rs 422.59 crore income. Speaking concerning the present monetary 12 months 2024-25, within the first half April-September 2024 it has acquired a internet revenue of Rs 8.75 crore and a income of Rs 255.09 crore.
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Tejas Cargo IPO Itemizing: Listing 4% premium share of ₹ 168, then revenue lacking underneath promoting stress
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