SJ Logistics IPO Subscription Surpasses Expectations with 107.34 Times Oversubscription

In a remarkable turn of events, the SJ Logistics IPO has witnessed an exceptional response from investors, with a subscription rate exceeding 107 times on day 3. The surge is attributed to the active participation of retail investors and non-institutional buyers, subscribing 164.99 and 99.60 times, respectively.

SJ Logistics IPO Details: Scheduled for subscription from December 12 to December 14, the SJ Logistics IPO is valued at ₹48 crore, consisting solely of a fresh issue of 3,840,000 equity shares. The Red Herring Prospectus (RHP) reveals no offer for sale (OFS) component. The funds raised will be allocated towards general corporate purposes, working capital requirements, and the repayment/prepayment of specific loans.

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Listed Peers and Industry Overview: Comparisons in the RHP indicate SJ Logistics’ listed peers as Patel Integrated Logistics Limited (P/E of 14.07) and Tiger Logistics (India) Limited (P/E of 18.12). The company specializes in providing supply chain and logistics solutions, including transportation handling, customs clearance, and goods forwarding. Notably, over 3,100 bills of lading were processed in various international regions during the fiscal year 2023.

Subscription Status and Grey Market Premium: As of the latest data on chittorgarh.com, SJ Logistics IPO has received bids for 27,42,53,000 shares against 25,55,000 shares on offer. The grey market premium (GMP) stands at +125, reflecting a significant increase from the previous session. This suggests strong demand, with the estimated listing price potentially reaching ₹250, doubling the IPO price of ₹125.

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Expert Analysis and Recommendations: Dilip Davda, contributing editor at Chittorgarh, notes the company’s focus on logistics and supply chain solutions. While acknowledging past top-line inconsistencies, he highlights a sudden boost in bottom lines from FY23 onwards. Based on super annualized FY24 earnings, the IPO appears reasonably priced, and long-term rewards are anticipated. Investors are advised to seek certified expert opinions before making decisions.

This SJ Logistics IPO review provides a comprehensive overview, ensuring you stay informed about the latest developments and expert insights.

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