The Pranik Logistics IPO has garnered significant attention, with investors keenly observing the progress of this public issue. Pranik Logistics IPO, which opened on October 10, is seeing a positive response and offers promising opportunities for both retail and non-institutional investors. Here’s a detailed look at what the IPO entails.
Overview of Pranik Logistics IPO
The Pranik Logistics IPO comes with a price band of ₹73 to ₹77 per equity share and is set to raise ₹22.47 crore through a fresh issuance of 29.18 lakh equity shares. This IPO does not include an offer-for-sale component, making it a fresh issue entirely. The money raised will be used for various purposes, including capital expenditures, investment in technology, and meeting working capital requirements.
Current Status of Pranik Logistics IPO
As of Day 2, the Pranik Logistics IPO has been subscribed 3.14 times overall. Retail investors have shown a keen interest, subscribing to 5.92 times the available shares for this category. On the other hand, non-institutional investors (NIIs) have subscribed to 0.88 times the allotted portion.
Investment Options in Pranik Logistics IPO
For retail investors, the minimum investment is one lot, which consists of 1,600 shares valued at ₹1,16,800. High-net-worth individuals (HNIs) can start bidding from two lots, amounting to ₹2,33,600. The IPO offers an accessible entry point for various types of investors.
Timeline of Pranik Logistics IPO
The Pranik Logistics IPO opened for subscription on October 10 and will remain open until October 14. After the bidding period ends, the allotment of shares will be finalized on October 15. Shares will be credited to the successful bidders’ Demat accounts by October 16, with the company set to list on the NSE SME platform, Emerge, on October 17.
About Pranik Logistics
Pranik Logistics provides comprehensive logistics solutions to industries like retail, consumer durables, telecom, manufacturing, and pharmaceuticals. Their fleet includes over 80 commercial vehicles, such as platform trucks and container trucks. The company aims to strengthen its position in the logistics sector through this IPO, making significant investments in technology and capital improvements.
Conclusion
The Pranik Logistics IPO presents a notable opportunity for investors looking to participate in the logistics industry’s growth. With a strong subscription rate and a clear plan for the raised capital, Pranik Logistics is poised to make impactful advancements in its operations. Investors should keep an eye on the upcoming allotment and listing dates.
