Pranik Logistics’ IPO is a book-built issue worth ₹22.47 crores, consisting entirely of a fresh issue of 29.18 lakh shares.
The IPO opens for subscription on October 10, 2024, and closes on October 14, 2024. The allotment is expected to be finalized on Tuesday, October 15, 2024, with the shares likely to list on the NSE SME platform on Thursday, October 17, 2024.
The price band is set at ₹73 to ₹77 per share, with a minimum application size of 1,600 shares. Retail investors need a minimum investment of ₹123,200, while HNIs must invest in at least 2 lots (3,200 shares), amounting to ₹246,400.
Narnolia Financial Services Ltd is the lead manager for the IPO, Maashitla Securities Private Limited is the registrar, and Prabhat Financial Services is the market maker.
Below are the details of Pranik Logistics Limited IPO Details, Timeline, Lot Size, Anchor Investor, and Promoter Holding.
Track All IPOs opening and closing today on our comprehensive list of IPO Watchlist 2024!
Pranik Logistics Limited IPO Details
| IPO Date | October 10, 2024 to October 14, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹73 to ₹77 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 2,918,400 shares (aggregating up to ₹22.47 Cr) |
| Fresh Issue | 2,918,400 shares (aggregating up to ₹22.47 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 8,091,750 |
| Share holding post issue | 11,010,150 |
| Market Maker portion | 161,600 shares |
Pranik Logistics Limited IPO Timeline
| IPO Open Date | Thursday, October 10, 2024 |
| IPO Close Date | Monday, October 14, 2024 |
| Basis of Allotment | Tuesday, October 15, 2024 |
| Initiation of Refunds | Wednesday, October 16, 2024 |
| Credit of Shares to Demat | Wednesday, October 16, 2024 |
| Listing Date | Thursday, October 17, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 14, 2024 |
Pranik Logistics Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹123,200 |
| Retail (Max) | 1 | 1600 | ₹123,200 |
| HNI (Min) | 2 | 3,200 | ₹246,400 |
Pranik Logistics Limited IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Net Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Net Offer |
Pranik Logistics Limited IPO Anchor Investor
| Bid Date | October 9, 2024 |
| Shares Offered | 820,800 |
| Anchor Portion Size (In Cr.) | 6.32 |
| Anchor lock-in period end date for 50% shares (30 Days) | November 14, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | January 13, 2025 |
Pranik Logistics Limited IPO Financial Information
| Period Ended | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | ||||||||||||||||||||||||||||||||||||
| Assets | 3,842.75 | 3,568.3 | 2,352.73 | 1,404.48 | ||||||||||||||||||||||||||||||||||||
| Revenue | 2,248.89 | 6,770.08 | 6,090.62 | 3,360.96 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 108.9 | 406.56 | 93.23 | 31.54 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 1,252.09 | 1,143.19 | 736.63 | 363.96 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 442.91 | 603.74 | 197.18 | 103.95 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 1,961.83 | 1,783.95 | 1,382.09 | 577.87 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||||||||||||
Pranik Logistics Limited IPO Review
Pranik Logistics Ltd. (PLL) is a pan-India logistics provider offering end-to-end services, including transportation, warehousing, material handling, and freight forwarding. Since its inception in 2015, the company has expanded its offerings and now operates a fleet of over 80 vehicles and manages 30 warehouses across 13 states, serving various industries. PLL is launching its IPO of ₹22.47 crore, offering 29.18 lakh equity shares at a price band of ₹73-₹77. The funds will be used for technological upgrades, equipment, working capital, and corporate purposes. The company has shown growth in revenue and profit but faces challenges in sustaining profitability due to rising costs.
The IPO opens on October 10, 2024, and closes on October 14, 2024. Shares will list on NSE SME post-allotment, and the company is targeting a market cap of ₹84.78 crore based on the upper price band.