Tejas Cargo IPO, one of the upcoming IPOs, allotment status is set for today, Wednesday, February 19, 2025. You can check the allotment status on the registrar’s website, Bigshare Services Pvt Ltd, as well as on the NSE website.
Successful bidders can expect the shares to be credited to their demat accounts on Thursday, February 20, 2025. Those who did not receive an allotment will likely receive refunds on the same day.
Tejas Cargo India’s ₹105.84 crore IPO was fully subscribed by the closing day, receiving strong interest from Non-Institutional Investors (NIIs).
The overall subscription stood at 1.22 times, and the allotment status is set to be finalised on February 19. The tentative listing date for Tejas Cargo India’s IPO is set for February 21, 2025, on the NSE SME platform.
The price band for the Tejas Cargo IPO was set between ₹160 and ₹168 per share. Retail investors applied with a minimum lot size of 800 shares, requiring an investment of ₹1,28,000.
To mitigate the risk of oversubscription, bidding at the cutoff price of ₹1,34,400 was recommended. High Net-Worth Individuals (HNIs) were required to apply for at least two lots, totalling 1,600 shares, which amounted to ₹2,68,800.
New Berry Capitals Private Limited served as the book-running lead manager for the IPO, while Bigshare Services Pvt Ltd acted as the registrar. New Berry Capitals was also the market maker for the issue.
Tejas Cargo India Limited is a logistics firm located in Faridabad, Haryana, specialising in long-distance supply chain transportation services across India. The company follows the Full Truck Load (FTL) model and serves industries including logistics, steel, cement, e-commerce, industrial chemicals, FMCG, and white goods.
As of September 30, 2024, more than 61% of trips were completed using the company’s own fleet, with the remainder managed through hired vehicles.
The Tejas Cargo IPO has attracted considerable attention, with strong demand from investors and a successful subscription. As the allotment status is revealed today, investors can stay updated on their allocations and prepare for the upcoming listing.
With the tentative listing date set for February 21, 2025, on the NSE SME platform, Tejas Cargo India’s entry into the market is a significant event for those looking to participate in the logistics sector.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Feb 19, 2025, 9:44 AM IST
Neha Dubey
Neha Dubey is a Content Analyst with 3 years of experience in financial journalism, having written for a leading newswire agency and multiple newspapers. At Angel One, she creates daily content on finance and the economy. Neha holds a degree in Economics and a Master’s in Journalism.
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