Oneclick Logistics Makes Strong NSE SME Debut with 41% Premium to IPO Price

On October 11, shares of Oneclick Logistics had an impressive debut, opening at a 41.41 percent premium over the IPO price. The stock commenced trading at Rs 140, significantly higher than the issue price of Rs 99 on the NSE SME platform. In the lead-up to the listing, the grey market premium (GMP) suggested a listing price of Rs 149, as it stood at Rs 50.

The IPO of this small and medium-sized enterprise (SME) was open for subscription from September 27 to October 3, with a price fixed at Rs 99 per share.

The public issue received overwhelming interest, with a subscription rate of 185.21 times. High-net-worth individuals (HNI) subscribed at 139.45 times, while retail investors led the way with a subscription rate of 224.19 times. The company successfully raised Rs 9.91 crore through the IPO, with the entire offering consisting of fresh issue shares and no offer-for-sale component.

Fedex Securities Pvt Ltd served as the book-running lead manager for the IPO, with Bigshare Services Pvt Ltd acting as the registrar, and SS Corporate Securities functioning as the market maker. The promoters of the company, Rajan Shivram Mote and Mahesh Liladhar Bhanushali, held 93 percent of the shares pre-issue, and post-issue, their stake was reduced to 67.17 percent.

The company plans to utilize the IPO proceeds to fulfill incremental working capital requirements, with the remaining funds allocated for general corporate purposes.

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