Om Freight Forwarders' Shares Plummet Post-IPO Debut
Shares of Om Freight Forwarders Ltd. experienced a significant decline post-IPO, closing nearly 37% lower than the issue price of Rs 135. The company's stocks debuted at Rs 82.50 on BSE and Rs 81.50 on NSE, with an overall market valuation of Rs 291.63 crore despite its IPO being oversubscribed.
- Country:
- India
Shares of Om Freight Forwarders Ltd, a leading logistics and freight forwarding company, took a nosedive on Wednesday, closing almost 37% below the IPO issue price of Rs 135.
The stock opened at a significant discount on its market debut, starting at Rs 82.50 on the BSE, marking a 38.88% devaluation. It finally settled at Rs 86.60, showing a 35.85% drop.
On the NSE, the stock opened at Rs 81.50, further down by 39.62%, concluding the day at Rs 85.57, representing a 36.61% decline. Despite the setbacks, Om Freight Forwarders' IPO had garnered 3.87 times subscription, raising Rs 122.3 crore.
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