The IPO floated by Pranik Logistics is a book-built issue designed to raise Rs 22.47 crores from the market. The issue comprises a fresh issue of 29.18 lakh equity shares and has no OFS (Offer For Sale). Bidding for this issue began on October 10. It is supposed to close today (October 14).
The 9-year-old company is in the business of logistics solutions across India. Pranik Logistics is equipped with 86 commercial vehicles and 30 warehouses spread across the country. It provides warehousing facilities, transportation, material handling, freight forwarding to a host of sectors such as general manufacturing, pharma, retail, consumer durables.
Pranik Logistics subscription status
According to information available till the morning of October 14, the last day of bidding, the retail portion of the issue that consists of 966,400 shares has attracted bids for 78,40,00 shares which means it has already recorded an oversubscription of 8.11 times. Overall, the level of subscription has been 4.36 times the entire offer.
Pranik Logistics GMP
Despite the considerable enthusiasm of investors as indicated by the level of subscription, the Pranik Logistics GMP has failed to take off at all. According to investorgain, the GMP (Grey Market Premium) was nil on the morning of October 14.
In fact, it has been 0 during the entire period from October 6 to October 14.
Pranik Logistics price band, allotment
An equity share of Pranik Logistics has been priced at Rs 73-77. A retail investor has to put in a minimum of Rs 123,200 since he/she has to apply for a minimum of 1,600 shares. HNIs (High Networth Individuals) have to apply for a minimum of 3,200 equity shares, which would require an application money of Rs 246,400.
The allotment of Pranik Logistics shares will be finalised on October 15 while listing will take place on October 17 in the SME segment of NSE.
Pranik Logistics financials
The turnover of Pranik Logistics stood at Rs 2,2.48 crore, Rs 67.70 crore, Rs 60.90 crore and Rs 33.60 crore on June 30, 2024, March 31, 2024, March 31, 2023 and March 31, 2022 respectively. The PAT stood at Rs 1.09 crore, Rs 4.06 crore, Rs 0.93 crore and Rs 0.31 crore respectively.
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The issue has evoked significant investor response despite an unenviable Grey Market Premium (GMP) record. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
