Om Freight Forwarders Plunges 40% Below IPO Price on Debut

On October 8th, 2025, shares of Om Freight Forwarders, a Mumbai-based logistics and freight solutions company, had a disappointing debut on the Indian stock exchanges. The stock opened at Rs 82.50 on the BSE and Rs 81.50 on the NSE, a significant 40% discount to its IPO price of Rs 135 per share.

Despite the weak listing, Om Freight Forwarders' Rs 122-crore IPO had received a healthy 3.9 times overall subscription, led by strong interest from high-net-worth individuals (7.4x) and qualified institutional buyers (4x). Retail investors also subscribed 2.8 times to the issue.

The company had also raised Rs 15.9 crore from anchor investors ahead of the IPO, indicating confidence from long-term participants. However, the modest gray market premium (GMP) suggests a cautious sentiment toward mid-sized logistics IPOs in an already crowded primary market.

In the fiscal year 2025, Om Freight Forwarders reported a revenue of Rs 494 crore and a profit after tax of Rs 22 crore, marking a 17% rise in sales and a 113% jump in profit over the previous year. The company's return on equity (ROE) stands at 13.5%, with a low debt-to-equity ratio of 0.17, showcasing its financial stability.

Going forward, the near-term performance of Om Freight's stock will depend on investor sentiment toward the logistics sector and broader market liquidity. While the company's diversified customer base, global footprint, and asset-light expansion model lend it stability, the muted GMP suggests a flat to mildly positive listing on debut.

In the long run, industry tailwinds from increasing trade volumes, supply-chain modernization, and digital freight management could benefit players like Om Freight, provided they sustain growth and margins in a competitive landscape.