Om Freight Forwarders IPO Soars with 3.87 Times Subscription

Om Freight Forwarders Ltd's IPO was oversubscribed 3.87 times. The Rs 122.3-crore offering generated interest from non-institutional and institutional investors, with respective subscriptions of 7.39 and 3.97 times. Retail investors subscribed 2.75 times. The IPO features a fresh issue and an offer for sale within a Rs 128-135 per share price range.

On the final bidding day, Om Freight Forwarders Ltd's initial public offering (IPO) was oversubscribed by 3.87 times, reflecting strong market interest in the logistics and freight forwarding company.

Data from the NSE reveals that the Rs 122.3-crore IPO attracted bids for 3,06,06,030 shares compared to the 79,16,945 shares on offer. Notably, non-institutional investors led the charge with a 7.39 times subscription, while qualified institutional buyers followed closely with 3.97 times.

Retail investors also showed considerable interest, subscribing to 2.75 times of their allotted category. The IPO, managed by Smart Horizon Capital Advisors, comprises a fresh issue worth Rs 24.43 crore and an offer for sale of up to 72,50,000 shares, priced between Rs 128 and Rs 135 per share.

(With inputs from agencies.)