Pranik Logistics IPO Closes Today: Latest Subscription Status and GMP

Pranik Logistics IPO will close today

Pranik Logistics stock market update: Pranik Logistics IPO which was opened for public subscription on Thursday, October 10 will close today. Pranik Logistics Ltd issued its IPO at a price band of Rs 73 to Rs 77 per share and worth Rs 22.47-crore.

The Pranik Logistics IPO consists of a fully fresh issue of 29.18 lakh shares. The minimum lot size that investors can bid for is 1 lot or 1600 shares while the minimum amount of investment for retail investors is Rs 123,200 and the minimum lot size investment for HNI is 2 lots or 3,200 shares.

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Pranik Logistics IPO closing details

Pranik Logistics IPO last day is set for Monday, October 15 while the allotment of the shares will be finalised on October 15 and will be listed on both NSE SME on October 17.

Pranik Logistics IPO subscription status

On the final day of bidding, the IPO received bids for 1,13,02,400 shares which is 5.84 times more than 19,36,000 shares which was offered for sale. Non-institutional investors category was subscribed 2.85 times while the retail individual investors (RIIs) were booked 10.47 times.

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Pranik Logistics IPO GMP today

As per market experts, the Pranik Logistics Ltd IPO which is not listed yet and still selling at the same issue price of Rs 77 signifies that there will be zero GMP. Zero GMP means there will be no listing gains when the IPO is listed on BSE NSE. ‘Grey market premium’ or ‘GMP’ is highly influenced by market sentiments and indicates whether the investors are willing to pay more than the issue price.

About Pranik Logistics Ltd

Pranik Logistics Ltd was established in 2015 and offers transportation solutions. The company provides services as a freight forwarder and transporter like transportation, warehousing, material handling, and freight forwarding to clients in industries like retail, consumer durables, telecom, manufacturing, pharmaceuticals, and more.

In FY24, the company’s revenue went up by 11 percent and profit after tax (PAT) increased by 336 percent.

Meanwhile, Pranik Logistics IPO book running lead manager is Narnolia Financial Services Ltd, Maashitla Securities Private Limited is the registrar and Prabhat Financial Services is the market maker for the issue.

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