Pranik Logistics IPO: Strong Demand as Subscription Closes Today
Pranik Logistics Ltd's IPO closes today with strong demand, receiving 5.84 times the subscription.
On the final day, it received 5.84 times more bids than available shares, with 1,13,02,400 bids for 19,36,000 shares.
The IPO for Pranik Logistics Ltd opened on October 10 and closes today, October 14.
Valued at Rs 22.47 crore, the price range is Rs 73 to Rs 77 per share.
On the final day, it received 5.84 times more bids than available shares, with 1,13,02,400 bids for 19,36,000 shares.
Subscription Breakdown:
Non-institutional investors: 2.85 times
Retail individual investors (RIIs): 10.47 times
Important Dates:
Subscription Period: October 10 - October 14, 2024
Share Allotment Date: Expected on October 15, 2024
Listing Date: Expected on October 17, 2024, on NSE SME
Investment Details:
Price Range: Rs 73 to Rs 77 per share
Minimum Lot Size:1,600 shares
Minimum Investment for Retail Investors: Rs 1,23,200
Minimum Investment for HNI: 2 lots (3,200 shares) for Rs 246,400
Narnolia Financial Services Ltd is managing the IPO, while Maashitla Securities Private Limited is the registrar.
Market Performance:
Currently, unlisted shares of Pranik Logistics are trading at Rs 77, showing no expected listing gains.
Company Overview:
Founded in 2015, Pranik Logistics Ltd provides logistics services across India, including transportation and warehousing. In the financial year 2023-24, the company’s revenue grew by 11%, and profit after tax increased by 336%.
