Shares of Sahara Maritime Ltd had a subdued debut on the bourses on December 26, initially maintaining a flat trajectory before witnessing some gains, only to turn negative later. Despite a robust subscription rate of over 22 times during the preceding week, the stock’s performance displayed notable fluctuations.
Commencing at Rs 81 per share, the stock reached a peak of Rs 84, marking a 3.7 percent increase. However, by approximately 10:15, the stock dipped to Rs 79.15 on the BSE, registering a 2.3 percent decline from its issue price of Rs 81 per share.
The SME IPO, which successfully garnered around Rs 6.88 crore, opened for subscription on December 18 and concluded on December 20.
The funds raised through the IPO are earmarked for meeting the company’s capital expenditure requirements, including the acquisition of commercial vehicles, office equipment, and addressing working capital needs.
