The initial public offering (IPO) of Pranik Logistics Ltd is set to close today, October 14, 2024. This IPO has garnered attention from investors as it offers a price band of ₹73 to ₹77 per share. As the bidding period comes to an end, let’s take a closer look at the subscription status and the current Grey Market Premium (GMP) for Pranik Logistics.
Subscription Status
Pranik Logistics IPO opened for public subscription on October 10, 2024, and has received a positive response. On its final day of bidding, the IPO was subscribed 5.84 times, with bids totaling 1,13,02,400 shares against the 19,36,000 shares available for sale.➔ The non-institutional investor category saw a subscription rate of 2.85 times.
➔ Retail individual investors (RIIs) showed strong interest, with their portion subscribed 10.47 times.
GMP Today
As of today, the unlisted shares of Pranik Logistics are trading at the same price as its issue price of ₹77, resulting in a zero GMP. This indicates that there are currently no expected listing gains from the IPO.➔ A zero GMP suggests that market sentiment around Pranik Logistics is neutral, with no additional investor willingness to pay above the issue price.
Key Details of Pranik Logistics IPO
- Price Band: The IPO has been priced between ₹73 and ₹77 per share.
- Total Issue Size: The total IPO size is approximately ₹22.47 crore.
- Allotment Date: Share allotments are expected to be finalized on October 15, 2024.
- Listing Date: Shares will be listed on the NSE SME platform on October 17, 2024.
- Minimum Investment: Retail investors must apply for a minimum of 1,600 shares, requiring an investment of approximately ₹123,200.
Company Overview
Pranik Logistics Ltd provides integrated logistics solutions across India. Established in 2015, the company operates as a freight forwarder and transporter, offering services such as transportation, warehousing, and material handling to various sectors including retail, telecom, manufacturing, and pharmaceuticals.
Conclusion
As Pranik Logistics IPO closes today with strong subscription numbers but zero GMP, potential investors should consider these factors before making any decisions. While the strong demand from retail investors indicates interest in the company’s growth potential, the lack of listing gains may temper expectations for immediate profits.Disclaimer: This article is for informational purposes only and should not be considered financial advice. Always consult with a financial advisor before making investment decisions.
