The initial public offering of Tejas Cargo Ltd. which is aiming to raise Rs 106 crore from the primary market will conclude its subscription on Tuesday, Feb. 18. The SME IPO was fully subscribed on Day 3, led by demand from all investor categories.

The IPO of the logistics company is one of the largest SME IPOs of the year.

As bidding on Day 3 comes to an end, here’s all you need to know about Tejas Cargo IPO including the latest grey market premium, Day 3 subscription status, allotment date and more.

Tejas Cargo IPO Subscription Status Day 3

The Tejas Cargo IPO has been subscribed 1.15 times as of 4:25 p.m. on Tuesday, as per the market tracking site Chittorgarh:

  • Qualified Institutional Buyers: 1.33 times

  • Non-Institutional Buyers: 1.07 times

  • Retail Investors: 1.08 times

Subscription status will be updated at regular intervals.

Tejas Cargo IPO Details

Tejas Cargo IPO is an entirely fresh issuance of 63 lakh shares offering shares at a price band of Rs 160 to Rs 168 apiece. The total offer size is valued at Rs 105.84 crore at the upper price band 

Retail investors can subscribe to the IPO with a minimum lot size of 800, resulting in an investment of Rs 1,34,400.

As per the company’s RHP document, of the 63,00,000 shares offered

  • 11,84,800 (18.81%) is reserved for QIB

  • 8,88,800 (14.11%) is reserved for NII

  • 20,72,800 (32.9%) is reserved for RII

  • 17,75,200 (28.18%) is reserved for Anchor investors.

New Berry Capitals Private Ltd. has been appointed as the sole running lead manager and the market maker for this SME issue whereas Bigshare Services Pvt. is its registrar.

Chander Bindal and Manish Bindal are the promoters of the company.

Tejas Cargo IPO GMP Today

The grey market premium for the Tejas Cargo IPO stood at Rs 0 as of 03:30 p.m. on Feb. 18, according to InvestorGain. This indicates a possible flat listing for the IPO.

The unlisted shares of Tejas Cargo were trading at Rs 168 apiece.

Note: The GMP is not an official source of data. It is based on speculation.

Tejas Cargo IPO Imporant Dates

The subscription window for Tejas Cargo IPO will remain open till Feb. 18. Allotment of shares in the offer is expected to be finalised on Feb. 19.

Credit of shares into the demat account of successful bidders will be done on Feb. 20. Refunds for the non-allottees will also be done on the same day. Shares of Tejas Cargo India Ltd. are proposed to be listed on the NSE SME platform on Feb. 24. 

Tejas Cargo has proposed to use the net proceeds from the IPO to buy trailers and fund its operational and working capital requirements. A section of the proceeds will be used to settle the company’s debts and general corporate purposes. 

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.

. Read more on IPOs by NDTV Profit.The latest grey market premium for the Tejas Cargo IPO stood at Rs 0 as of 03:30 p.m. on Feb. 18, indicating a possible flat listing for the company.  Read MoreIPOs 

​NDTV Profit