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.
