Blue Water Logistics IPO Day 2: Know GMP, Price Band, Subscription Update & Other Key Details

Blue Water Logistics IPO Day 2: End-to-end logistics provider Blue Logistics Ltd. kicked-off its initial public offering (IPO) on Tuesday and was booked 1.28 times on day 1 and will remain open till Thursday May 29. The demand was driven by qualified institutional investors and non-institutional investors, who subscribed for nearly 2 times the number of shares offered.

The Rs 40.50 crore SME IPO Logistics is entirely a fresh issue of 30 lakh shares. The firm intends to use the net proceeds from the issue to fund its capital expenditure requirements by the purchase of vehicles and its body building, and for general corporate purposes.

Blue Water Logistics Subscription Update

The end of the second day of subscription, the NSE SME IPO was subscribed 2.34 times, the retail segment booked 1.97 times and the portion reserved for non-institutional investors (NIIs) subscribed 1.97 times. The segment reserved for qualified institutional buyers was booked 3.31 times.

Blue Water Logistics IPO date 

The SME IPO opened for subscription on Tuesday, May 27, and will conclude on Thursday, May 29.

Blue Water Logistics IPO Grey Market Price

Reportedly, the latest grey market premium (GMP) of Blue Water Logistics shares was zero. This indicates that Blue Water Logistics shares could be listed at par with the issue price.

Blue Water Logistics IPO price

The price band of the public issue has been fixed at ₹132 to ₹135 per equity share.

Blue Water Logistics IPO size

The company aims to raise Rs 40.50 crore from the issue, which it will earmark to meet working capital requirements and funding capital expenditure requirements.

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Blue Water Logistics IPO lot size

Bidders can apply in lots, and one lot of the SME IPO comprises 1,000 company shares.

Blue Water Logistics IPO reservation

As much as 50 per cent of the net issue is reserved for QIBs, while 35 per cent of the net issue is reserved for retail investors. The remaining 15 per cent of the issue is reserved for NIIs.

Blue Water Logistics IPO listing

As per SEBI's T+3 rule of IPO listing, the SME IPO is proposed for listing on the NSE SME on Tuesday, June 3.

Blue Water Logistics IPO allotment date

 The IPO is closing on Thursday, May 29, so as per SEBI's listing rules, the company is expected to finalise the share allotment on Friday, May 30. Successful bidders can expect shares of the company in their demat accounts on Monday, June 2, and bidders who fail to get the allocation may get the refund on the same day.