Jayesh Logistics IPO listing: Jayesh Logistics’ share price made a subdued debut on the Indian stock market on Monday, November 3. The shares got listed at a 1.64 per cent discount to the IPO price of ₹122 per share.
The stock opened at ₹120 on the National Stock Exchange’s (NSE) SME segment despite receiving an overwhelming response from investors during the subscription period.
After a weak market debut, Jayesh Logistics’ shares quickly hit the 5 per cent lower circuit, dropping to ₹114 apiece on the NSE. This indicates that investors missed out on any listing gains, despite the grey market premium (GMP) earlier suggesting a 9 per cent listing pop over the IPO price.
Jayesh Logistics IPO details
Jayesh Logistics’ ₹28.63 crore IPO was open for subscription from October 27 and closed on October 29.
The SME IPO garnered an exceptional response, being oversubscribed 65.59 times overall. The qualified institutional buyers (QIBs) segment (excluding anchor investors) saw 40.86 times subscription, non-institutional investors (NIIs) subscribed 138.75 times, and the retail investor portion was subscribed 51.79 times.
The IPO involved the issuance of 23.47 lakh new equity shares with a face value of ₹10 each. Out of the total proceeds, ₹8.85 crore is earmarked for purchasing side wall trailers, ₹11.24 crore for meeting working capital requirements, ₹72 lakh for the second phase of developing a smart logistics application, and the balance for general corporate purposes.
Founded in May 2011, Jayesh Logistics offers goods transportation services between India and its neighboring countries — Nepal, Bhutan, and Bangladesh. The company manages port loading and unloading operations, along with warehousing and distribution services, and provides real-time shipment tracking. Its financial performance has shown steady improvement over time.
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