Om Freight Forwarders IPO Subscribed 2.47 Times on Day 3

Market Performance

The initial public offering of Om Freight Forwarders Ltd continued to attract strong investor attention on its third day of bidding. By 3:12 pm on Wednesday, the IPO had received bids for 1.96 crore shares against 79.17 lakh shares available, reflecting an overall subscription of 2.47 times, as per NSE data.

Investor participation was uneven across categories: while non-institutional and institutional investors led the demand, retail and employee segments showed more cautious interest.

Strong Demand from NIIs and QIBs

Non-institutional investors (NIIs) demonstrated remarkable interest, with their portion subscribed 4.95 times. Breaking it down further:

• High-value NII bids above Rs 10 lakh: 5.18 times subscribed, driven largely by individual investors accounting for over 55 lakh shares.
• Smaller NII category (Rs 2–10 lakh): 4.51 times subscribed.

Qualified institutional buyers (QIBs) also showed robust appetite, subscribing 3.95 times the reserved portion. Foreign institutional investors contributed 14.82 lakh shares, while the “Others” sub-segment accounted for 38.16 lakh shares, forming the bulk of NII demand.

Retail Investors and Employees Showed Caution

Retail individual investors (RIIs) were more measured, with their portion subscribed 1.24 times:

• 40.56 lakh bids placed at the cut-off price.
• 13.49 lakh bids placed at price-specific levels.

The employee portion remained undersubscribed at 0.31 times, with only 1.41 lakh bids against the 4.5 lakh shares reserved.

IPO Issue Details

The Rs 122.31-crore IPO includes:

• Fresh issue: 18.1 lakh shares, raising Rs 24.44 crore.
• Offer for sale: 72.5 lakh shares, raising Rs 97.88 crore.

Key details:

• Price band: Rs 128–135 per share
• Lot size: 111 shares
• Minimum retail investment at upper price band: Rs 14,985

Following the IPO, the company’s total equity share capital will rise from 3.19 crore shares to 3.37 crore shares. Smart Horizon Capital Advisors Pvt. Ltd. is serving as the book-running lead manager, while Bigshare Services Pvt. Ltd. is the registrar.

Timeline and Listing

• Basis of allotment: Tentatively finalised on October 6
• Listing date: Tentatively October 8 on both NSE and BSE

Summary

The third day of the Om Freight Forwarders IPO confirms strong investor confidence, particularly among NIIs and QIBs, while retail and employee participation remains moderate. The IPO’s successful subscription highlights the market’s sustained interest in freight and logistics-focused companies.