From high hopes to a rocky start: Why did Paradeep Parivahan’s IPO drop 24% on its debut?
Paradeep Parivahan, a logistics company based in Paradip Port, the issue opened for bidding on 17 March 2025 and it closed on 19 March 2025 However, the excitement quickly turned into disappointment as the shares dropped 24% on the first day.
The IPO Journey
The company’s IPO, priced between ₹93-98 per share, was oversubscribed 1.64 times, showing strong investor interest. It raised ₹11.68 crore from anchor investors just days before the listing. But when the stock hit the market, it opened at ₹78.40, a 20% discount to the IPO price.
Market Performance
The stock hit a high of ₹78.40 and a low of ₹74.48, eventually freezing at the 5% lower circuit. Over 1.03 lakh shares were traded, reflecting mixed reactions from investors.
What’s Next for Paradeep Parivahan?
The company plans to use the IPO funds for working capital and general corporate purposes. With a strong presence in Paradip Port and a diverse range of services, Paradeep Parivahan aims to bounce back despite its shaky start.
While the debut was rocky, the company’s long-term potential in the logistics sector remains promising. Investors will be watching closely to see if Paradeep Parivahan can turn things around.
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