Brace Port Logistics Limited IPO

NiftyTrader • August 14, 2024

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Brace Port Logistics Limited IPO opens on August 19, 2024, and closes on August 21, 2024. The allotment for the Brace Port Logistics Limited IPO is anticipated to be completed on Thursday, August 22, 2024. The IPO will be listed on the SME and NSE, with a tentative date set for Monday, August 26,2024.

The Brace Port Logistics Limited IPO’s price band is Rs 76 to Rs 80 per share. The IPO is a book-built issue of Rs 24.41 crores crores, entirely a fresh issue of 30.51 Lakhs shares.

Brace Port Logistics IPO Details

IPO Date	August 19, 2024 to August 21, 2024
Listing Date	[.]
Face Value	₹10 per share
Price	₹76 to ₹80 per share
Lot Size	1600 Shares
Total Issue Size	3,051,200 shares (aggregating up to ₹24.41 Cr)
Fresh Issue	3,051,200 shares (aggregating up to ₹24.41 Cr)
Issue Type	Book Built Issue IPO
Listing At	NSE SME
Shareholding pre-issue	8,250,000
Shareholding post-issue	11,301,200
Market Maker portion	155,200 shares

Brace Port Logistics IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	1600	₹128,000
Retail (Max)	1	1600	₹128,000
S-HNI (Min)	2	3200	₹256,000

Brace Port Logistics IPO Objectives

The company proposes to utilize the Net Proceeds of the Fresh Issue towards funding the following objects:

General Corporate Purpose
Funding of working capital requirements of the company;

About Brace Port Logistics Limited

Brace Port Logistics Limited, incorporated in November 2020, offers ocean cargo logistics services across multiple industries. Their services also include air freight, warehousing, special cargo handling, and customs clearance. The company operates internationally, serving sectors like medical supplies, pharmaceuticals, electronics, and automotive, with clients in Germany, Vietnam, UAE, Hong Kong, and Bangladesh.

Certified in ISO 9001:2015, 14001:2015, and 45001:2015, the company ensures quality, environmental, and safety standards. As of August 31, 2023, Brace Port Logistics had 20 employees across departments like Finance, Compliance, Marketing, Operations, and Management.

Brace Port Logistics Limited Financial Information

Brace Port Logistics Limited’s revenue decreased by -22% and profit after tax (PAT) dropped by -21% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	31 Mar 2024	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	2,783.29	1,310.78	1,179.14	409.61
Revenue	5,524.59	7,093.66	5,419.57	706.25
Profit After Tax	489.13	618.09	322.39	22.57
Net Worth	1,377.18	888.05	419.96	97.57
Reserves and Surplus	552.18	813.05	344.96	22.57
Total Borrowing	48.97	59.1		65.62
				Amount in ₹ Lakhs

Brace Port 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% of the Net Issue
NII (HNI) Shares Offered	Not less than 15% of the Net Issue

Brace Port Logistics IPO Timeline

Brace Port Logistics IPO opens on August 19, 2024, and closes on August 21, 2024.

IPO Open Date	Monday, August 19, 2024
IPO Close Date	Wednesday, August 21, 2024
Basis of Allotment	Thursday, August 22, 2024
Initiation of Refunds	Friday, August 23, 2024
A credit of Shares to Demat	Friday, August 23, 2024
Listing Date	Monday, August 26, 2024
Cut-off time for UPI mandate confirmation	5 PM on August 21, 2024

Conclusion

Brace Port Logistics Limited’s IPO will open from August 19 to 21, 2024, with a price range of Rs 76 to Rs 80 per share, aiming to raise Rs 24.41 crores. The company provides ocean cargo logistics services and plans to use the funds for working capital and general corporate purposes. Despite a revenue and profit drop in FY 2024, the company shows asset growth and operates internationally. The IPO will list on August 26, 2024, on the NSE SME, with a minimum lot size of 1,600 shares for retail investors.