Committed Cargo Care shares list with 6.5% premium at ₹82 apiece on NSE SME

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₹82.00 apiece on NSE SME, a premium of 6.49% to the issue price of ₹77.00 per share. Committed Cargo IPO was an SME IPO that opened for subscription on October 06 and closed on October 10. The company raised ₹24.95 crore from the public issue, which was completely a fresh issue of 32,40,000 equity shares and there was no offer for sale (OFS) component.

Committed Cargo Care IPO price band was set at ₹77 per share and the issue received strong response from investors. The IPO allotment was finalised on October 13. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) The IPO was subscribed 87.78 times in total as the issue received bids for 26.99 crore equity shares as against 32.40 lakh shares offered.

Committed Cargo IPO was subscribed 78.73 times in the retail category and 94.20 times in Other category. Read here: Committed Cargo Care IPO fully booked on day 3, retail portion subscribed over 58 times The company plans to use the net proceeds from the offering to fund working capital requirements; and general corporate purposes. The main purpose of the working capital will be to increase the company's present activities.

The company stated in its RHP that it expects a boost in profitability as a result of funding its company's working capital needs. Fedex Securities Private Ltd is the book running lead manager to the issue, and the IPO registrar is Bigshare Services Private Ltd. Committed Cargo Care Ltd is a third party logistics provider that specializes in handling import and export cargo.