Pranik Logistics IPO: The initial public offering of Pranik Logistics Ltd was opened for public subscription on Thursday. The price band of the Rs 22.47-crore IPO has been fixed at Rs 73 to Rs 77 per share for the public issue. On the first day of bidding on Thursday, the IPO received a 2.43 times subscription garnering bids for 47,07,200 shares as against the 19,36,000 shares on offer.
The category for non-institutional investors received 0.86 times subscription, while the portion for retail individual investors (RIIs) got subscribed 4.50 times.
Pranik Logistics IPO: Key Dates
The Pranik Logistics IPO will remain opened for public subscription between October 10 and October 14. The share allotment of the Pranik Logistics IPO will likely be finalised on October 15, while its shares will be listed on both NSE SME on October 17.
Pranik Logistics IPO: Price Band
The price band of the Rs 22.47-crore IPO has been fixed at Rs 73 to Rs 77 per share for the public issue.
Pranik Logistics IPO: GMP Today
According to market observers, unlisted shares of Pranik Logistics Ltd continue are trading at the same price as its issue price of Rs 77, thus zero GMP. The zero GMP indicates no listing gains from the IPO.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Pranik Logistics IPO: More Details
The Pranik Logistics IPO is entirely a fresh issue of 29.18 lakh shares.
Pranik Logistics Limited, which was established in 2015, offers integrated logistics solutions. The company is a PAN India logistics provider operating as a freight forwarder and transporter, providing integrated services such as transportation, warehousing, material handling, and freight forwarding to its clients in various industries such as retail, consumer durables, telecom, manufacturing, pharma, etc.
Pranik Logistics IPO opens for subscription on October 10, 2024 and closes on October 14, 2024. The allotment for the Pranik Logistics IPO is expected to be finalized on Tuesday, October 15, 2024. Pranik Logistics IPO will list on NSE SME with tentative listing date fixed as Thursday, October 17, 2024.
Pranik Logistics IPO price band is set at ₹73 to ₹77 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹123,200. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹246,400.
Narnolia Financial Services Ltd is the book running lead manager of the Pranik Logistics IPO, while Maashitla Securities Private Limited is the registrar for the issue. The market maker for Pranik Logistics IPO is Prabhat Financial Services.
Pranik Logistics Ltd’s revenue rose 11 per cent and profit after tax (PAT) rose by 336 per cent in the financial year 2023-24.
