Committed Cargo Care Limited IPO Day 1: Check Price Band, Important Dates, GMP And Other Details Here

The Rs 24.95 crore initial public offering (IPO) of Committed Cargo Care Limited will open for subscription on Friday. The public issue will close for bidding on Tuesday (October 10). The price band of Committed Cargo Care Ltd IPO is set at Rs 77.

The offer is purely a fresh issuance of up to 32.4 lakh equity shares at a face value of Rs 10 each. The company is expected to utilize the proceeds from the issue to meet working capital requirements and for general corporate purposes.

Committed Cargo Care Ltd IPO Lot Size:

Investors are allowed to bid for a minimum of 1,600 equity shares in the public issue and multiples of 1,600 equity shares thereof. Thus, the minimum investment required for applying to this IPO is Rs 1,23,200.

According to the company's Red Herring Prospectus (RHP), the issue does not include an offer for sale (OFS) component.

Committed Cargo Care Ltd IPO has a P/E ratio of 10.94. Meanwhile, the P/E ratio of other listed peers of Committed Cargo Care Ltd. is - Jet Freight Logistics Ltd (P/E ratio of 980), Total Transport Systems Ltd (P/E ratio of 16.53), and Tiger Logistics (India) Ltd (P/E ratio of 18.85).

In FY23, the company reported a total revenue of Rs 122.22 crore, and profit after tax (PAT) of Rs 5.33 crore. Fedex Securities Pvt Ltd is the book-running lead manager, while Bigshare Services Pvt Ltd is the registrar for the IPO.

According to the company's RHP, the company has withdrawn short-term loans from banks. The outstanding amounts under these loans include Rs 14.69 lakhs, Rs 50.60 lakhs, and Rs 16.25 lakhs respectively for the financial years ending March 31, 2022, March 31, 2023, and April 30, 2023.

Committed Cargo Care Limited IPO GMP

According to market observers, Committed Cargo Care IPO GMP or grey market premium on Thursday was Rs 16, which means Committed Cargo Care shares were trading at a premium of Rs 16 in the grey market on Thursday.