Pranik Logistics IPO Opens Today: Key Details and Offer Information

The initial public offering of Pranik Logistics Ltd is officially open for subscription today, October 10. This Rs 22.47 cr book-building issue consists entirely of a fresh issuance of 2.918 million shares with the bidding window remaining open until October 14.

The price band for the IPO has been set between Rs 73 and Rs 77 per share, with a face value of Rs 10 each. Retail investors can apply for a minimum lot size of 1,600 shares, requiring a minimum investment of Rs 1,23,000 at the upper price band.

Here are the key details for potential investors:

IPO Timeline: Share allotment status is expected to be finalized on October 15, with refunds for non-allottees initiated on October 16. Successful bidders will see shares credited to their Demat accounts on the same day.

Listing Date: Pranik Logistics Ltd. shares are scheduled to be listed on the NSE SME platform, Emerge, on October 17.

The promoters—Pranav Kumar Sonthalia, Shradha Kumari, and Minal Sonthalia—collectively hold over 99% of the company. Narnolia Financial Services Ltd. is the book-running lead manager, while Maashitla Securities Private Ltd. acts as the registrar for the issue. Prabhat Financial Services Ltd. is the market maker for the IPO.

Current Grey Market Premium (GMP)

As of 6:03 A.M on October 10, the grey market premium for Pranik Logistics IPO stood at nil. This figure may fluctuate as the subscription period progresses and investors should keep in mind that GMP is speculative and not a definitive indicator of stock performance.

Company Overview and Financials

Founded in 2005, Pranik Logistics Ltd. is an integrated logistics solutions provider operating across India. The company serves a diverse clientele in industries such as retail, consumer durables, telecom, manufacturing, and pharmaceuticals. Pranik Logistics offers services including transportation, warehousing, material handling, and freight forwarding, operating a fleet of 86 commercial vehicles and 30 warehouses.

For the fiscal year 2024, the company reported an 11% increase in revenue to ₹67.7 crore, up from ₹60.9 crore in FY23. Net profit surged to ₹4.06 crore in FY24, a significant rise from ₹93 lakh in the previous fiscal year.

Use of IPO Proceeds

Pranik Logistics plans to utilize the net proceeds from the IPO for technology investments, capital expenditures, working capital needs, general corporate purposes, and other issue-related expenses.