Om Freight tumbles nearly 37% in debut trade

New Delhi: Shares of Om Freight Forwarders Ltd, a logistics and freight forwarding company, on Wednesday ended nearly 37 per cent lower than the issue price of Rs 135.

The company’s stock made its market debut at Rs 82.50, a discount of 38.88 per cent from the issue price on the BSE. Shares of the firm later ended at Rs 86.60 apiece, a drop of 35.85 per cent.

On the NSE, the stock started trading at Rs 81.50, down 39.62 per cent. It finally ended at Rs 85.57 a share, a decline of 36.61 per cent.

The company’s market valuation stood at Rs 291.63 crore. The Initial Public Offering (IPO) of Om Freight Forwarders Ltd received 3.87 times subscription on the final day of bidding on Friday last week.