NSE SME Committed Cargo Care sees good debut

Shares of Committed Cargo Care were quoting at Rs 86.10 on the NSE, a premium of 11.82% compared with the issue price of Rs 77.

The scrip was listed at Rs 82, up 6.49% over the initial public offer (IPO) price. The stock was currently frozen at an upper limit of 5% from its listing price.

The counter hit a high of Rs 86.10 and a low of Rs 82. About 15.95 lakh shares of the company changed hands at the counter.

Committed Cargo Care's IPO was subscribed 82.12 times. The issue opened for bidding on 6 October 2023 and it will close on 10 October 2023. The price of the IPO was fixed at Rs 77 per share.

The IPO comprised fresh issue of 32,40,000 shares. The company plans to use the net proceeds from the fresh issue to meet the working capital requirements and general corporate purposes.

Committed Cargo Care is a 3PL (Third Party Logistic) provider which specializes in handling Import & Export Cargo and provide integrated services to customers. The company provides integrated logistics services such as cargo management solutions, order management, international freight management, customs and cross-border movement, heavy and over-dimensional cargo movement etc. As on 31 August 2023, the company has 169 employees.

The company recorded a revenue from operations of Rs 9.59 crore and net profit of Rs 0.54 crore for the period ended as on 30 April 2023.

Powered by Capital Market - Live News