The PDP Shipping & Projects Limited has launched its Fixed Price Issue amounting to ₹12.65 Crores, consisting entirely of a Fresh Issue of 9.37 Lakh shares. The subscription window for this Initial Public Offering (IPO) opened on March 10, 2025, and will close on March 12, 2025. The allotment of shares is scheduled to be finalized on March 13, 2025, and the shares are expected to be listed on the BSE SME with a tentative listing date set for March 18, 2025.

The IPO price has been set at ₹135 per equity share, giving the company a market capitalization of ₹40.15 Crores at the offer price. The IPO has a lot size of 1,000 shares, which means retail investors need to invest a minimum of ₹1,35,000. For High-Net-Worth Individuals (HNIs), the minimum investment is ₹2,70,000, which is for 2 lots (2,000 shares).

The book running lead manager for the IPO is SUN CAPITAL ADVISORY SERVICES PRIVATE LIMITED, and the registrar for the issue is KFIN TECHNOLOGIES LIMITED. Rikhav Securities Limited is the Market Maker for this IPO.

PDP Shipping & Projects IPO Subscription Status

As of 12:30 PM on March 11, 2025, the PDP Shipping & Projects IPO has been subscribed 0.36 times on its second day of the subscription period. Investors can check the live subscription status on the BSE website.

PDP Shipping & Projects IPO Grey Market Premium (GMP)

Currently, the Grey Market Premium (GMP) of the PDP Shipping & Projects IPO stands at ₹0, reflecting no significant market expectation ahead of the listing. As per market observers, no real trading is happening in the grey market, making it difficult to gauge the likely listing price before the official stock exchange debut.

IPO Allotment Process

Investors who have applied for the PDP Shipping & Projects IPO can check the allotment status online. The allotment date is scheduled for March 13, 2025. To check allotment status, investors should:

1. Visit the registrar’s website.
2. Select PDP Shipping & Projects Limited IPO.
3. Enter either the application number, PAN, or DP Client ID.
4. Submit the details to check if shares have been allotted.

IPO Objective and Use of Proceeds

The funds raised through this IPO will be used for two primary objectives:

1. ₹1,000 Lakhs will be allocated for long-term working capital requirements.
2. ₹79.95 Lakhs will be utilized for general corporate purposes.

Company Overview and Financials

PDP Shipping & Projects Limited is an international freight forwarding company providing tailor-made global transportation solutions. The company has steadily grown, with revenues for the year ended Nov 30, 2024, reported at ₹1,377.63 Lakh. The EBITDA for the same period was ₹249.05 Lakh, and the profit after tax (PAT) was ₹157.04 Lakh.

The company’s financial performance indicates a steady growth trajectory, with a pre-issue EPS of ₹11.36 and a post-issue EPS of ₹7.78 for FY24. The PE ratio stands at 11.88x pre-issue, which is lower compared to the industry’s average PE ratio of 52x, making the IPO relatively fairly priced.

IPO Review and Recommendations

Given the company’s solid financials, growth prospects, and comparatively lower PE ratio, the IPO is considered fairly priced. However, the Grey Market Premium (GMP) of ₹0 suggests that market sentiment is neutral, and there may not be substantial listing gains. Therefore, we recommend investors proceed with caution and consider holding the stock for long-term growth rather than expecting immediate listing gains.

The Upcoming IPOs in this week and coming weeks are Paradeep Parivahan, Divine Hira Jewellers.

The Current active IPO are Super Iron Foundry, PDP Shipping & Projects.

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