SJ Logistics IPO Allotment Finalised: Check Listing Date, GMP Today

The share allotment of the SJ Logistics IPO, which was opened for public subscription between December 12 and December 14, has been finalised. The Rs 48-crore SME IPO received a whopping 316.26 times subscription overall. Even as the listing is likely to take place on December 19, Tuesday, the grey market is expecting a 96 per cent gain on that day.

The IPO price was fixed at Rs 125 per share.

SJ Logistics IPO: How To Check Allotment Status

Step 1: Visit Maashitla Securities’ website.

Step 2: Enter PAN, application number or Demat account number

Step 3: Click on ‘Submit’

Your IPO allotment status will be shown. You can download or print for your record.

SJ Logistics IPO GMP Today

According to market observers, unlisted shares of SJ Logistics (India) Ltd continue to trade Rs 120 higher in the grey market as compared with its issue price. The Rs 120 grey market premium or GMP means the grey market is expecting a 96 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

SJ Logistics IPO Details

The S J Logistics IPO was entirely a fresh issue of 38.4 lakh shares. Its price band was fixed at Rs 121-Rs 125 per share. The minimum lot size for an application was 1,000 shares. The minimum amount of investment required by retail investors was Rs 1,25,000.

The proceeds will be utilised towards repayment and/or pre-payment, in whole or part, of certain borrowings availed by the company; to meet working capital requirements; and for general corporate purpose.

Hem Securities Limited is the book-running lead manager of the S J Logistics IPO, while Maashitla Securities Private Limited is the registrar for the issue. The market maker for S J Logistics IPO is Hem Finlease.

Thane-based S J Logistics (India) Limited was incorporated in 2003. It provides logistics and supply chain solutions and services.

The company provides freight forwarding, customs clearance and transportation handling services to companies in the yarn and textiles, automobile, heavy engineering, power transmission, rubber tapes, pharmaceuticals, carpets, handicrafts and iron and steel products sectors.

Its profit after tax in the financial year 2022-23 stood at Rs 7.61 crore and its revenue during the year stood at Rs 135 crore.