PNN
Mumbai (Maharashtra) [India], October 5: Committed Cargo Care Limited is a leading provider of integrated logistics services, has announced its plans to go public with an Initial Public Offering (IPO) on October 6th, 2023. The company is aiming to raise Rs 24.95 crore through this IPO, with shares set to be listed on the NSE EMERGE platform.
The fresh issue size is 32,40,000 equity shares at face value of Rs 10 each.
Equity Share Allocation
* Non-Institutional Investors (NII) - Up To 15,37,600 Equity Shares
* Retail Individual Investors (RII) - Up To 15,37,600 Equity Shares
* Market Maker portion - Up To 1,64,800 Equity Shares
The net proceeds from the IPO will be utilised for meeting Working Capital Requirements and for General Corporate Purpose. The issue will close on October 10, 2023.
The Lead Manager to the Issue is Fedex Securities Private Limited. The Registrar to the Issue is Bigshare Services Private Limited.
Nitin Bharal, Director & CEO of Committed Cargo Care Limited said, "Committed Cargo Care Limited has come a long way since its establishment in 1998, and this IPO marks a significant milestone in our journey. We have always been committed to providing top-notch integrated logistics services to our clients, and this public offering will further empower us to expand our horizons and enhance our service offerings.
The funds raised through this IPO will be instrumental in strengthening our working capital, enabling us to continue our mission of seamless cargo management, both nationally and internationally."
Uday, Director of Fedex Securities Limited said, "We are honoured to be part of Committed Cargo Care Limited's transformative journey. This company has shown exceptional dedication and skill in the logistics industry. I believe that this IPO will not only strengthen their financial position but also enhance their market reputation, enabling them to achieve even greater milestones in the logistics industry. We believe in their potential, and we're here to support their growth."
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