Committed Cargo Care IPO: Bumper Response on Day One, Listing Projected at ₹107
Committed Cargo Care Limited has initiated its Initial Public Offering (IPO), available for subscription until October 10, with a share price set at ₹77. The IPO includes a fresh issue of 32,40,000 equity shares, and the company aims to utilize the net proceeds for working capital needs and general corporate purposes. On the first day, the IPO garnered strong interest, achieving a subscription status of 1.72 times, driven by enthusiastic responses from retail and non-institutional investors. With bids for 52,81,600 shares against the 30,75,200 on offer, the company is witnessing robust demand. The estimated gray market premium of ₹30 suggests potential gains for investors, projecting a 40% increase when shares are listed at ₹107. The book running lead managers for the IPO are Fedex Securities Private Ltd, and the allotment of shares may conclude on October 13, with the listing expected on October 18, 2023. Retail investors, allowed to bid for one lot, will requ...