IPO
PDP Shipping’s Rs.13-Cr SME IPO subscribed 1.01 times
The SME initial public offering (IPO) of Mumbai-based PDP Shipping & Projects has received 1.01 times subscription to raise INR 13 crore through a fresh issue of 9.37 lakh shares, at INR 135 a piece. The retail portion of the issue was subscribed by 1.88 times, while the issue was subscribed by 14% in the non-institutional investors category.The company will use the proceeds for part funding long-term working capital requirements. The issue is being managed by Sun Capital Advisory Services.PDP Shipping provides solutions for the logistics and transport industry involving multimodal transportation, sea, air, coastal, rail & road transportation, custom clearance and other value-added services.
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