The shares of the Kaushalya Logistics Limited (KLL) Initial Public Offering (IPO) were subscribed 131.08 times by the end of the third day the issue was open for subscription on January 02, 2024, with a strong demand from retail and non-institutional investors. The issue opened on December 29, 2023 and will close for subscription on January 03, 2024.
Combined, the investors placed bids for nearly 46.47 crore shares against an offer size of 35.45 lakh shares, according to the data on NSE website, updated by 5 pm on January 02, 2024.
So far, Qualified institutional buyers including Foreign Institutional investors have placed bids for about 44.73 lakh shares. Non-institutional investors including corporates and high net worth individuals bought nearly 14.58 crore shares. Retail individual investors placed bids for about 31.43 crore shares by the end of day 3.
The Rs 36.60 crore IPO of the Kaushalya Logistics Limited comprises of a fresh issue of 33.80 lakh shares an offer for sale of 15 lakh shares. The price band is set at Rs 71 to Rs 75 through the book building process.
On the third day, the retail portion was subscribed 193.64 times wheras the NII and QIB portions were subscribed 209.26 times and 4.55 times respectively. The IPO reserves 33.28% shares for the retail category, 14.26% for the NIIs and 20.12% for the QIBs. 27.33% portion was reserved for the anchor investors whereas 5.01% portion of the net issue was reserved for the market maker.
The issue will remain open for one more day on January 03, 2024 and is poised boost its subscription numbers significantly as is the norm. Another SME issue – Kay CEE Energy & Infra IPO, that closed today, had received record subscriptions. The Kay CEE IPO was subscribed a record 959.53 times, becoming the most subscribed SME IPO ever.
Incorporated in 2007, Kaushalya Logistics Limited provides clearing and forwarding services to a leading cement company in India. The company also distributes electronics and home appliances through an e-commerce platform and has forayed into the commercial real estate leasing business in 2023.
