BSE SME PDP Shipping & Projects makes a poor debut

Shares of PDP Shipping & Projects were trading at Rs 102.85 on the BSE, a discount of 23.81% compared with the issue price of Rs 135.

The scrip was listed at 108.25, a discount of 19.81% compared with the initial public offer (IPO) price. The stock was currently frozen at its lower limit of 5% over its listing price.

The counter hit a high of Rs 108.25 and a low of Rs 102.85. About 1.71 lakh shares of the company changed hands at the counter.

PDP Shipping & Projects' IPO was subscribed 0.22 times. The issue opened for bidding on 10 March 2025 and it closed on 12 March 2025). The price of the IPO is fixed at Rs 135 per share.

 

The IPO comprised fresh issue of 9,37,000 equity shares. The promoter and promoter group shareholding diluted to 68.50% from 99.99% pre-issue.

The company intends to utilise the net proceeds to partially fund long-term working capital requirements and general corporate purposes.

PDP Shipping & Projects provides end-to-end solutions in the logistics & transport industry involving multimodal transportation, sea, air, costal, rail and road transportation and custom clearance & other value-added services in logistics. As on 27 January 2025, the company had 18 employees on its payroll

The company recorded revenue from operations of Rs 13.75 crore and net profit of Rs 1.57 crore for the period as of 30 November 2024.

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