Ashapura Logistics Soars 29% in Stellar Market Debut on NSE SME, Lists at ₹185Ashapura Logistics Soars 29% in Stellar Market Debut on NSE SME, Lists at ₹185

Ashapura Logistics enjoyed a robust market debut with its shares opening at ₹185 on the NSE SME. This listing price represents a 29% increase over the issue price of ₹144, showcasing a strong initial market reception on its first trading day.

The IPO garnered a robust response, achieving an overall subscription rate of 185 times. Retail investors were highly engaged, subscribing 174 times, and Non-Institutional Investors also demonstrated considerable interest, with their portion subscribed 289 times.

Ashapura Logistics Limited, an established logistics provider in India, offers comprehensive services including cargo handling, transportation, and warehousing. With 20 years in the industry, they employ technology to deliver scalable solutions and operate from Ahmedabad with a presence at major seaports and ICDs. Their operations span four main verticals: cargo handling, transportation, warehousing, and coastal movement.

Ashapura Logistics aims to use IPO funds for buying trucks and equipment, building a warehouse at Mundra Port, boosting working capital, and supporting general corporate activities to fuel growth and operational efficiency.