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The Rs 8-crore initial public offer of Tiger Logistics closed today and its shares will be listed on the SME (small and medium enterprises) platform of the BSE.
The 11.4 lakh shares public issue had opened for subscription on August 27, at Rs 66 per share.
"The listing will foster our company's visibility in the Indian logistics space and strengthen our fundamentals and credibility to match up to the competition from MNC giants that are increasing eating into our market share," said Harpreet Singh Malhotra, MD, Tiger Logistics.
With customers such as Honda Cars, Hero MotoCorp, Yamaha, LG, DRDO and Bajaj Auto it is the 9th logistics company in the country to go public.
The company will raise about Rs 8 crore through this offer, Tiger Logistics said in a statement.
Sarthi Capital Advisors Pvt Ltd was the book running lead manager to the issue.
