There was a new listing today though not via an IPO but through scheme of arrangement.

With effect from 28th December 2021, Gateway East India (and Gateway Distriparks were merged with Gateway Rail Freight (GRFL)  and then in Feb’22, its name was changed to Gateway Distriparks (GDL).

The company completed the process of getting the approval for listing and trading of the equity shares allotted pursuant to the Composite Scheme of Amalgamation on BSE and NSE.

As per the scheme, each GDL shareholder would have received four GRFL shares for which the record date was January 6, 2022.

This new merged entity got listed on the BSE today at Rs.72.95, going on to briefly skim the 5% UC and LC at Rs.76.55 and Rs.69.35 respectively.