Committed Cargo Care IPO: Logistics services provider Committed Cargo Care on Friday launched an initial public offer (IPO) to raise up to Rs 25 crore. Committed Cargo Care’s public offer, a fixed price IPO, comprises fresh issuance of 3,244,000 shares. The stock will be listed on stock exchange’s SME platform.  

Here are some of the important things to know about the Committed Cargo Care SME IPO:  

Committed Cargo Care IPO allotment date, Committed Cargo Care listing date 

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

The IPO, which opened for subscription on October 6, will conclude on October 10. The subscription window will be available on the three trading days, from 10 am to 5 pm. The basis of the allotment of shares, under the IPO, is set to be finalised tentatively on October 13. While winning bidders will get the shares transferred to their demat accounts on October 17, other participants will have the refunds initiated on October 16.   The Committed Cargo Care stock is likely to be listed on the NSE Emerge platform on October 18. 

Issue price and lot size: Shares are being offered in a price band of Rs 77 under the IPO. A potential investors can apply for the IPO in multiples of 1,600 shares, translating to Rs 1,23,200 per lot.  

Committed Cargo Care IPO: Book running lead manager and registrar   

Fedex Securities is the book-running lead manager for the public issue, whereas  Bigshare Services is the registrar. 

Committed Cargo Care IPO: Fund utilisation 

The third-party logistics provider plans to utilise the proceeds from the issue mainly for meeting working capital requirements and general corporate purposes, according to its red herring prospectus (RHP). 

What does Committed Cargo Care do? 

Incorporated in 1998, Committed Cargo provides integrated logistics services such as cargo management solutions, order management, international freight management, customs and cross-border movement, heavy and over-dimensional cargo movement. 

New Delhi-headquartered Committee Cargo specialises in handling import and export cargo, with hubs at New Delhi, Mumbai, Jaipur and Ludhiana and a reliable network of associate offices both within the country and abroad, according to its website.

READ MORE —Catch LIVE updates on the October 4-6 review of the RBI's MPC here. Find the latest minute-by-minute stock market updates here.