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Prior to its listing, Marinetrans India had garnered significant interest in the grey market, trading at an 11 percent premium. The enthusiasm for Marinetrans was evident during its IPO phase between November 30 and December 5, when it was oversubscribed by 33 times. Notably, retail investors showed immense interest, subscribing to the IPO at 47 times the number of shares available. This impressive demand allowed the company to raise ₹10.92 crore (INR10 crore = approx. USD1.2 million) through the issuance of new shares.
The funds raised from the IPO are earmarked for enhancing working capital and other corporate purposes. Swaraj Shares and Securities led the book-running process for the offering, with Skyline Financial Services handling registration duties and Nnm Securities acting as the market-maker.
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