Tejas Cargo Services: Tejas Cargo Services shares get listed at 4.17% premium!Tejas Cargo Services: Tejas Cargo Services shares get listed at 4.17% premium!

Tejas Cargo Services IPO made its debut on the NSE with a 4.17 percent premium, listing at ₹175.0. The stock opened higher than its issue price, reflecting positive market sentiment and moderate gains for investors on the listing day.

Tejas Cargo Services IPO saw a total subscription of 1.15 times on Day 3. The qualified institutional buyers subscribed 1.33 times, non-institutional investors 1.07 times, and retail investors 1.09 times, indicating moderate demand across all investor categories before the issue closed.

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Tejas Cargo India Limited, incorporated in March 2021, is a logistics company based in Faridabad, Haryana, offering supply chain transportation services across India. It provides express road transport under Full Truck Load (FTL) for industries like logistics, steel, e-commerce, and FMCG, operating a fleet of 1,131 vehicles nationwide.

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Tejas Cargo India Limited IPO proceeds will fund 31.76 crores for 64 new trailers, 30 crores for working capital, 15 crores for debt repayment, and the remaining for corporate purposes, ensuring financial stability, expansion, and operational growth.
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