The initial public offer of Maheshwari Logistics has garnered a whopping subscription of Rs 123 crore, making it the second highest share sale of a small and medium enterprise (SME). The issue, which was subscribed 4.53 times of total shares offered, witnessed huge participation of both retail and non-retail investors, including corporates and HNIs. The IPO came with a public offering of 39,96,000 equity shares at a price of Rs 68 per equity share on Emerge platform of NSE.
Maheshwari Logistics is engaged in providing logistics services, supply of non-coking coal, manufacturing of kraft paper and trading in a variety of papers. The SME capital market platform was launched in 2012 by BSE and NSE. Since then, 197 companies have been listed on Indian SME bourses.