Understanding Pranik Logistics IPO: Key Information and Insights
The much-anticipated Initial Public Offering (IPO) of Pranik Logistics commenced its subscription on October 10, 2024, and is set to conclude on October 14, 2024. This IPO presents an opportunity for investors to engage with a burgeoning logistics company poised for growth in a competitive market.
Subscription Status
As of October 10, 2024, at 4:10 PM, the Pranik Logistics IPO has garnered significant interest, with total subscriptions reaching 2.08 times the offered shares. Notably, the breakdown of subscriptions is as follows: the retail category has seen an impressive 3.83 times subscription, while the Qualified Institutional Buyers (QIB) category has shown a subscription rate of 0.00 times, and the Non-Institutional Investors (NII) category stands at 0.76 times.
Key Dates to Remember
For those interested in participating in the Pranik Logistics IPO, here are the essential dates to keep in mind:
- IPO Subscription Period: October 10, 2024 – October 14, 2024
- Allocation Date: Expected on October 15, 2024
- Listing Date: Scheduled for October 17, 2024, on NSE SME
Pricing and Lot Size
The price band for the Pranik Logistics IPO is set between ₹73 and ₹77 per share. Investors should be aware that a minimum application requires buying a lot of 1,600 shares, equating to a minimum investment of ₹123,200 for retail investors. For high-net-worth individuals (HNIs), a minimum investment of two lots (i.e., 3,200 shares) is required, totaling ₹246,400.
Objectives of the IPO
The Pranik Logistics IPO aims to raise ₹22.47 crore through a book-built offering of 29.18 lakh shares. The proceeds from the IPO are earmarked for various strategic initiatives:
- Investing in advanced technology to enhance operational efficiency.
- Meeting capital expenditure requirements to bolster infrastructure.
- Satisfying working capital needs to support ongoing operations.
- Covering general corporate purposes and addressing associated issue expenses.
Grey Market Premium (GMP)
As per the latest data, the Pranik Logistics IPO is currently trading in the grey market with a zero premium. This indicates that shares are available at the issue price without any additional markup, which may suggest cautious investor sentiment or strategic positioning ahead of the listing.
Conclusion
Investing in the Pranik Logistics IPO could present an appealing opportunity for traders and investors alike, especially given its strategic objectives and the growing demand for logistics solutions. However, potential investors should consider their financial goals and consult with certified experts before making any investment decisions.
Disclaimer: The views and recommendations provided herein are based on individual analysts’ opinions and do not reflect the views of any specific brokerage or financial institution. Investors are encouraged to conduct thorough research and seek expert advice prior to investing.
