Overview

• Shares opened at Rs 84 on NSE and Rs 88 on BSE, hit an intraday low of Rs 81.10, and closed near Rs 83.70–83.85, about 35% below the Rs 129 issue price.
• The closing level implied a market capitalisation of roughly Rs 775 crore, according to exchange figures.
• The Rs 307 crore offering, priced in a Rs 120–129 band, comprised about 1.24 crore fresh shares and an offer for sale of up to 1.14 crore shares.
• Overall subscription was about 2.05 times, with QIBs at 1.87x, NIIs at 2.97x, and retail at 1.42x, reflecting uneven investor interest across categories.
• Fresh-issue proceeds are earmarked for commercial vehicles, debt repayment, and general corporate purposes, as the logistics firm emphasises multi-modal operations with an energy-supply focus.