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Hot Pursuit News

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(08 Jan 2024, 12:05)

NSE SME Kaushalya Logistics rallies on debut

Shares of Kaushalya Logistics were quoting at Rs 105 on the NSE, a premium of 40% compared with the issue price of Rs 75.

The scrip was listed at Rs 100, a premium of 75% compared with the initial public offer (IPO) price. The stock was currently frozen in an upper limit of 5% over its listing price.

The counter hit a high of Rs 105 and a low of Rs 100. About 19.68 lakh shares of the company changed hands at the counter.

Kaushalya Logistics' IPO was subscribed 264.59 times. The issue opened for bidding on 29 December 2023 and it closed on 3 January 2023. The price of the IPO was fixed at Rs 71 to Rs 75 per share.

The IPO comprised fresh issue of 33,80,000 shares and an offer for sale upto 15,00,000 equity share by existing shareholders. The promoter and promoter shareholding diluted to 73.65% from 99.99% pre-IPO.

The company intends to utilize the net proceeds for repayment of unsecured loan...

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