Pranik Logistics Limited IPO
Pranik Logistics Limited IPO opens for subscription on October 10, 2024, and closes on October 14, 2024. The allotment for the Pranik Logistics IPO is expected to be finalized on Tuesday, October 15, 2024. Pranik Logistics IPO will be listed on NSE SME with a tentative date of Thursday, October 17, 2024.
Pranik Logistics IPO price band is set at ₹73 to ₹77 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹123,200. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹246,400.
Pranik Logistics IPO is a book built issue of Rs 22.47 crores. The issue is entirely a fresh issue of 29.18 lakh shares.
Pranik Logistics IPO Details
| IPO Date | October 10, 2024 to October 14, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹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) |
| Offer for sale | 9,500,000 shares of ₹5 (aggregating up to ₹90.25 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre-issue | 8,091,750 |
| Shareholding post-issue | 11,010,150 |
Pranik Logistics IPO Lot Size
Investors can bid for a minimum of 1600 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 1600 | ₹123,200 |
| Retail (Max) | 1 | 1600 | ₹123,200 |
| S-HNI (Min) | 2 | 3200 | ₹246,400 |
Pranik Logistics IPO Objectives
The Company proposes to utilize the funds being raised to fund the following objectives:
- To meet the expenses for Investment in technology;
- To meet the Capital Expenditure Requirement of the Company;
- To meet the Working Capital requirements of the Company;
- To meet out the General Corporate Purposes; and
- To meet out the Issue Expenses.
About Pranik Logistics Limited
Founded in 2015, Pranik Logistics Limited is a prominent integrated logistics provider across India. Specializing in transportation, warehousing, material handling, and freight forwarding, the company serves diverse industries including retail, consumer durables, telecom, manufacturing, and pharmaceuticals. With a fleet of 86 commercial vehicles and 30 company-managed warehouses, Pranik Logistics combines an asset-light business model with a commitment to quality and customer service. The experienced management team has fostered long-standing relationships with clients, while the company employs 625 permanent staff as of September 30, 2024, positioning itself for continued growth and success in the logistics sector.
Pranik Logistics Limited 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 IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.03% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15.00% of the Net Offer |
Pranik Logistics IPO Timeline
Pranik Logistics IPO opens on October 10, 2024, and closes on October 14, 2024.
| 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 |
| A 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 |
