Blue Water IPO sees muted demand; subscription lags at 16%, GMP nil

Blue Water Logistics IPO subscription status Day 1: The issue was subscribed only 16 per cent as of 1:30 PM

Blue Water Logistics IPO subscription status Day 1: The initial public offering (IPO) of Blue Water Logistics opened for subscription today, May 27, 2025. The SME public issue has received a muted response from investors so far. The issue was subscribed only 16 per cent as of 1:30 PM on day 1 of subscription, according to data from the National Stock Exchange (NSE).

 

The portion booked for retail investors was subscribed 31 per cent, and the non-institutional investor's (NIIs) quota was subscribed just 5 per cent. However, the issue failed to secure any bids from qualified institutional buyers (QIBs)  

 

 

The company has reserved not less than 50 per cent of the issue for QIBs, 35 per cent for retail investors and 15 per cent for NIIs.

Blue Water Logistics IPO GMP

On Tuesday, the unlisted shares of Blue Water Logistics were trading flat at ₹135, the upper band price, in the grey market, according to sources tracking unofficial markets.   ALSO READ | Aegis Vopak Terminals IPO Day 2 update: Subscription lags at 29%, GMP up 4% 

Blue Water Logistics IPO details

The three-day subscription window for the initial public offering will close on Thursday, May 29, 2025. The basis of the allotment of shares is likely to be finalised on Friday, May 30, 2025. Shares of Blue Water Logistics will be listed on the NSE SME platform on Tuesday, June 3, 2025. 

 

The company aims to raise ₹40.5 crore through a fresh issue of 3 million equity shares. There is no offer-for-sale component. The company has set the price band in the range of ₹132 to ₹135 per share. Retail investors would require a minimum investment amount of ₹1,32,000 to buy one lot comprising 1,000 shares. High net-worth individuals would need ₹2,70,000 to bid for two lots.

 

Maashitla Securities is the registrar of the issue. Smart Horizon Capital Advisors is the sole book-running lead manager. 

 

According to the red herring prospectus (RHP), from the net fresh issue proceeds, the company aims to use ₹10.5 crore to fund capital expenditure requirements for the purchase of vehicles and its bodybuilding, and ₹20 crore to meet working capital requirements. There remaining proceeds will be used for general corporate purposes.   ALSO READ | Leela Hotels IPO Day 2 update: Check latest subscription status, GMP, more

About Blue Water Logistics

Hyderabad-based Blue Water Logistics is engaged in the business of providing logistics and supply chain solutions. Its key services include freight forwarding, customs clearance, and transportation handling services. It is a Multimodal Transport Operator registered under the Multimodal Transportation of Goods Act 1993 to carry on the business of multimodal transportation.  The company operates through five branch offices situated in the cities of Chennai, Delhi, Jaipur, Visakhapatnam and Thane. Over the years, Blue Water Logistics has served customers in different industries, including confectionery products, chemicals, crockery, natural stones, textiles, electronics and fitness equipment. As of March 31, 2025, the company owns 25 commercial vehicles used for diverse transportation purposes.