SJ Logistics had a successful market debut on December 19, opening at a substantial 40% premium over its IPO price. The stock initiated trading at Rs 175 on the NSE SME platform, surpassing the issue price of Rs 125.
This impressive listing performance can be attributed to the robust subscription figures during the initial public offering phase. The IPO saw an overwhelming subscription of 316 times, with retail investors subscribing 356 times their allotted quota, high net-worth individuals (HNIs) subscribing 489 times, and qualified institutional buyers (QIBs) purchasing 116 times the allocated shares.
Prior to the listing, the shares were commanding an 80% premium in the grey market—an unofficial trading platform where shares are bought and sold before official listing. The grey market premium serves as an informal indicator, providing investors with insights into the expected listing price.
The public offer, totaling Rs 48 crore, was open for subscription from December 12 to December 14, with a price band set at Rs 121-125 per share. The funds raised through the fresh issue will be utilized for repaying or pre-paying specific borrowings, meeting working capital requirements, and addressing general corporate purposes. The promoter of SJ Logistics is Rajen Hasmukhlal Shah.
SJ Logistics specializes in providing freight forwarding, customs clearance, and transportation handling services to companies across various sectors, including yarn and textiles, automobile, heavy engineering, power transmission, rubber tapes, pharmaceuticals, carpets, handicrafts, and iron and steel products.
