Investing in PDP Shipping IPO is a profitable deal or?
The IPO of PDP Shipping and Projects has been in the news this week. This IPO was open for subscription from march 10 and its subscription closed today, march 12. By the third day, this IPO has received 76 percent subscription, in which retail investors have shown great interest.
What is the price band of PDP Shipping IPO?
The price band of PDP Shipping IPO has been kept at Rs 135 per share, which has a data-face value of Rs 10. Investors can bid for a minimum of 1,000 shares and after that bids can be placed in multiples of 1,000 shares.
What does PDP Shipping company do?
PDP Shipping is a Multi Modal Transport Operator (MTO) company working in the logistics and transport sector. It provides sea and air freight, custom clearance and other value-added services related to the logistics industry. The company is licensed as an MTO and Customs Broker by the Directorate General of Shipping and mumbai Customs of the government of India. The company's specialty is that it provides international freight forwarding and global door-to-door transportation solutions. Apart from this, it also specializes in project logistics, which includes services such as super heavy lift, over dimension cargo (ODC) handling and marine towing operations.
What is the subscription status of the IPO?
Subscription till the third day: 76 percent
Retail investors' share: 1.39 times subscribed
NII (non-institutional investors) share: 13 percent subscribed
In total, the company has received bids for 6,78,000 shares, while the offer was for 8,90,001 shares. The IPO received 24 percent subscription on the first day, while on the second day this figure reached 47 percent.
