The highly anticipated IPO of Brace Port Logistics, a leading ocean cargo logistics company, opened for subscription on August 19 and witnessed an overwhelming response from investors. The IPO was subscribed over 48.1 times on the first day of bidding, reflecting strong demand for the company’s shares.
Founded in November 2020, Brace Port Logistics specializes in providing ocean cargo logistics services to clients across various industries. In addition to ocean freight, the company also offers Air Freight, warehousing facilities, specialized cargo handling in foreign countries, international delivery, and customs clearance services.
Brace Port Logistics IPO Subscription Status
The SME IPO received a remarkable 12,06,86,400 applications against the offered 25,13,600 shares. The subscription status, as disclosed by NSE, indicates that the IPO was oversubscribed by over 48 times, underscoring the high demand among investors.
According to the latest data, the retail quota was oversubscribed by 81.41 times, the non-institutional investor category by 29.03 times, and the QIB category by 6.59 times, showcasing widespread interest in the IPO.
Brace Port Logistics IPO Details
The IPO period for Brace Port Logistics is from August 19 to August 21, with a valuation of ₹24.41 crore. The IPO comprises a fresh issue of 30.51 lakh shares and is set at a price band of ₹76 to ₹80 per share. The allotment of shares is expected to be finalized on August 22, followed by the listing on the NSE SME on August 26.
Holani Consultants Private Limited is the lead book manager for the Brace Port Logistics IPO, while Link Intime India Private Ltd is the registrar for the issue. Holani Consultants also serves as the market maker for the IPO, ensuring a smooth and efficient listing process.
Brace Port Logistics IPO GMP
Market observers have noted a premium of ₹92 in the grey market for Brace Port Logistics shares, indicating strong investor interest. This suggests that the estimated listing price may reach ₹172, a significant increase of 115% from the issue price of ₹80, showcasing a positive market sentiment towards the company.
The ‘grey market premium’ reflects investors’ willingness to pay above the issue price, signaling confidence and optimism in the potential growth prospects of Brace Port Logistics.
