The scrip was listed at 78.40, a discount of 20% compared with the initial public offer (IPO) price. The stock was currently frozen at its lower limit of 5% over its listing price.
The counter hit a high of Rs 78.40 and a low of Rs 74.48. About 1.03 lakh shares of the company changed hands at the counter.
Paradeep Parivahan's IPO was subscribed 1.64 times. The issue opened for bidding on 17 March 2025 and it closed on 19 March 2025. The price band of the IPO was set at Rs 93-98 per share.
The IPO comprised fresh issue of 33,85,200 equity shares. The promoter and promoter group shareholding diluted to 65.96% from 92.59% pre-issue.
The company intends to utilize the net proceeds to meet working capital requirements and general corporate purposes.
Ahead of the IPO, Paradeep Parivahan on 13 March 2025, raised Rs 11.68 crore from anchor investors. The board allotted 11.92 lakh shares at Rs 98 per share to 9 anchor investor.
Paradeep Parivahan is located within Paradip Port and specializes primarily in logistics. The company is engaged in cargo handling, port operations, intra-port transportation, as well as the handling and transportation of port import cargo. It also provides in-plant shifting of bulk raw materials and hazardous cargo, railway siding operations, crusher operations, special attention cargo handling, earthwork, and more. The company had 1,124 employees on payroll.
The company recorded revenue from operations of Rs 137.50 crore and net profit of Rs 5.17 crore for the period as of 30 September 2024.