Jayesh Logistics’ initial public offering (IPO) received an enthusiastic response from investors on October 27, the opening day of bidding. The issue was subscribed 3.98 times, with investors applying for 71.29 lakh shares against the 17.91 lakh shares available.
Among investor categories, non-institutional investors (NIIs) led the charge, subscribing 7.77 times their allotted quota. The portions reserved for qualified institutional buyers (QIBs) and retail investors were subscribed 5.02 times and 2.22 times, respectively.
The Kolkata-based logistics and supply chain management firm plans to raise ₹28.63 crore through the IPO, which consists of a fresh issue of 23.47 lakh shares priced in the range of ₹116–₹122 per share.
Ahead of the public offering, the company secured ₹6.78 crore via its anchor book, allotting 5.56 lakh shares at ₹122 per share to five investors — Vira AIF Trust, LRSD Securities, Fortune Hands Growth Fund, Arnesta Global Opportunities Fund, and Shine Star Build Cap.
The company intends to utilise the IPO proceeds for purchasing side wall trailers, meeting working capital needs, implementing Phase 2 of its Smart Logistics Application, and for general corporate purposes.
Jayesh Logistics operates a fleet of 95 heavy material and cargo handling trucks, offering services such as road and rail freight transport, truck forwarding, loading and unloading, customs clearance, and machinery leasing. Its clientele includes industries spanning iron and steel, cement, infrastructure, engineering, and heavy industrial machinery.
Indcap Advisors is the sole book-running lead manager for the IPO.
