Arvind and Company Shipping Agencies IPO: Price, GMP, Lot Size, Key Dates – News18
Arvind and Company Shipping Agencies IPO: The initial public offering (IPO) of Arvind and Company Shipping Agencies is going to be opened for public subscription on Thursday, October 12. It will close on October 16. The SME IPO is a fixed price issue of Rs 14.74 crore and is entirely a fresh issue of 32.76 lakh shares.
Arvind and Company Shipping Agencies IPO will likely list on the NSE SME on October 25, 2023.
Arvind and Company Shipping Agencies IPO price is Rs 45 per share. The minimum lot size for an application is 3,000 shares. The minimum amount of investment required by retail investors is Rs 1,35,000. The minimum lot size investment for HNI is 2 lots (6,000 shares) amounting to Rs 2,70,000.
Beeline Capital Advisors Pvt Ltd is the book-running lead manager of the Arvind and Company Shipping Agencies IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for Arvind and Company Shipping Agencies IPO is Spread X Securities.
Arvind and Company Shipping Agencies IPO GMP Today
According to market observers, unlisted shares of Arvind and Company Shipping Agencies is currently trading Rs 8 higher in the grey market than the issue price. The Rs 8 grey market premium or GMP is about 17.78 per cent higher than its upper issue price of Rs 45 per share. This means the grey market is expecting a 17.78 per cent listing gain from the public issue.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
About Arvind and Company Shipping Agencies
Jamnagar-based Arvind and Company Shipping Agency, which was incorporated in September 1987, is in the business of carrying and forwarding agents. The company operates in vessels like Cargo Barges, Flat Top Barges, Crane Mounted Barges, Hopper Barges, Spud Barges and tugs for Cargo. The company mainly provides services related to Marine Vessels and Ancillary equipment and supplies equipment to multinational corporations.
The company has also expanded its business horizon by entering into the hospitality business with Hotel Millennium Plaza and Hotel 999.
Arvind and Company Shipping Agency Limited has more than 15 employees and has completed over 850 projects.
Arvind and Company Shipping Agency Limited’s revenue increased by 153.77 per cent and profit after tax (PAT) rose by 246.15 per cent between the financial year ending with March 31, 2023, and March 31, 2022.