Iware Supplychain Services IPO makes weak debut, shares list at over 10% discount on NSE SME

Shares of Iware Supplychain Services opened at ₹85.05 apiece on the NSE SME platform Emerge. The stock was listed at a discount of 10.47% compared to the issue price of ₹95 per share.

As the minimum bid size for retail investors was 1,200 shares, allottees suffered a loss of ₹11,940 per lot at the time of listing.

Iware Supplychain Services' NSE SME issue was subscribed 2.96 times during the three-day subscription period. The retail investors' quota was booked 3.28 times, while the non-institutional investors' (NIIs) part was subscribed 2.65 times.

The ₹27.13 crore initial public offering was a fresh issuance of 28.56 lakh shares without an offer-for-sale component. The IPO price was ₹95 per share.

Iware Supplychain Services IPO allotment was finalised on May 2.

The net issue proceeds will be used for capital expenditure towards construction of a new industrial shed and working capital needs. A portion will also be utilised for general corporate purposes.

Iware Supplychain Services, incorporated in 2018, is a pan-India logistics firm offering warehousing transportation, auxiliary services, rake handling, and rental income. It has a fleet of 47 vehicles and services industries like FMCG, pharmaceuticals, e-commerce, and auto components. Its services are available in states, including Gujarat, Uttar Pradesh, West Bengal, Rajasthan, Punjab, Haryana, and Delhi.

The net profit was ₹8.02 crore in the financial year 2024-25, compared to ₹4.17 crore in FY24. Its revenue from operations in FY25 stood at ₹86.11 crore, as against ₹58.77 crore in the previous fiscal year.