New Delhi, June 3 (H.S.): Blue Water Logistics debuted on the stock market today, with shares issued at ₹135 under its IPO. The listing on the NSE's SME platform saw an initial gain of 4.44%, reaching ₹141. As buying increased, shares climbed to ₹146, reflecting an 8.15% profit by 11:15 AM. The IPO raised ₹40.50 crore and was open for subscription from May 27 to 29, receiving an overall subscription of 9.36 times—14.04 times for qualified institutional buyers, 9.87 times for non-institutional investors, and 6.55 times for retail investors.

The offering comprised 3 million new shares with a face value of ₹10 each. Proceeds will be allocated for purchasing vehicles, working capital needs, and general corporate purposes. Financially, the company reported net profits growing from ₹1.54 crore in 2021-22 to ₹10.67 crore in 2023-24, with revenues reaching ₹196.29 crore and a CAGR exceeding 41%.

Hindusthan Samachar / Jun Sarkar