Cargosol Logistics' IPO to close tomorrow

29 Sep 2022 , 09:18 AM

The subscription period for Cargosol Logistics’ initial public offering (IPO) began on Wednesday and ends on September 30. According to the most recent information on the BSE, the IPO got total bids for 21.04 lakh shares at Rs28 on the first day.

The company would issue 27 lakh equity shares with a face value of Rs10 at an issue price of Rs28 and a premium of Rs18 per equity share as part of the Rs7.168 crore-SME IPO.

The draft prospectus states that the issue’s proceeds will be used to cover working capital needs, general business purposes, the purchase of vehicles for commercial use, the expansion of the non-vessel-owning common carrier division, and issue-related costs.

Investors may submit bids for a minimum lot in the offer of 4,000 shares. Cargosol Logistics will list its shares on the BSE. After the problem, promoter ownership in the logistics company will be 73.52%.

The issue’s lead manager is Hem Securities, and Link Intime is the registrar.

Cargosol Logistics, with its corporate headquarters in Mumbai, is a full-service 3 PL (third-party logistics) service provider that offers end-to-end solutions in the logistics and supply chain domain.

These solutions include transport operations, owning and operating containers, sea and air freight, transportation, warehousing, custom clearance services, and handling of project cargo.

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