Marinetrans India Share Price Faces 5% Lower Circuit Post Listing with Initial 15.4% Premium on NSE SME Exchange

 Marinetrans India Share Price Faces 5% Lower Circuit Post Listing with Initial 15.4% Premium on NSE SME Exchange

VoM News Desk | December 8, 2023 | 11:53 AM IST | Breaking News | Follow on Google News

Marinetrans India Share Price Faces 5% Lower Circuit Post Listing with Initial 15.4% Premium on NSE SME Exchange Image/marinetrans.in

Marinetrans India Share Price Faces 5% Lower Circuit Post Listing with Initial 15.4% Premium on NSE SME Exchange

Marinetrans India IPO Listing Update:
Shares of Marinetrans India Limited made their debut on the NSE SME Emerge platform at ₹30 per share, marking a 15.4% premium compared to the issue price of ₹26 per equity share. However, profit booking led to Marinetrans India share price hitting the 5% lower circuit at ₹28.50 apiece within a few minutes of listing.

In the first 13 minutes of share listing, Marinetrans India shares recorded a trade volume of 8.56 lakh.

Marinetrans India IPO Details:
The public issue, valued at ₹10.92 crore, was open for subscription from November 30, 2023, to December 5, 2023. The net proceeds from the IPO will be utilized for working capital needs, general corporate expenses, and issue-related costs to leverage the benefits of being listed on the NSE Emerge Platform.

Listed peers of Marinetrans India include Cargosol Logistics Ltd (P/E of 8.56), Cargotrans Maritime Ltd (P/E of 12.54), AllCargo Logistics Ltd (P/E of 13.88), and Total Transport Systems Ltd (P/E of 35.66), as per the Red Herring Prospectus (RHP).

Marinetrans is a sea freight forwarding company that evolved from a goods forwarder to providing door-to-door delivery and third-party logistics (3PL) services. The company offers a range of freight-related and transport management services, including air and sea freight forwarding, with operations in various locations in India.

Marinetrans India Share Price Faces 5% Lower Circuit Post Listing with Initial 1: 5.4% Premium on NSE SME Exchange: For any Error, Rectification: CLICK

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