Pranik Logistics IPO Day 2: Check subscription status, GMP, key dates and other details

Pranik Logistics IPO: The subscription period for Pranik Logistics' initial public offering (IPO) started on October 10. The public offer will remain open for subscription till October 14. Check subscription status, GMP, key dates and other key details below.

Pranik Logistics IPO: Subscription Details

Pranik Logistics IPO was subscribed 3.94 times. on October 11 by 4.10 PM. The public issue had been subscribed 7.39 times in the retail category, 0 times in the QIB category, and 1.19 times in the NII category.

Pranik Logistics IPO: Key Dates

Pranik Logistics IPO will go live on October 10, 2024, and end on October 14, 2024. On Tuesday, October 15, 2024, the allocation for Pranik Logistics IPO is anticipated to be completed. The proposed listing date for Pranik Logistics shares on NSE SME is Thursday, October 17.

Pranik Logistics IPO Details

The IPO price range or price band is ₹73– ₹77 per share. A minimum lot size of 1600 shares is required for an application. Hence, retail investors need to invest at least ₹123,200. For HNIs, the minimum investment is two lots (3,200 shares) for which ₹246,400 is required.

Pranik Logistics IPO: Objectives of the issue

The ₹22.47 crore Pranik Logistics IPO is a book-built offering. The IPO is entirely a fresh issue of 29.18 lakh shares.

The company plans to use the issue proceeds to meet the expenses for investment in technology. Some portion will also be utilised for the capital expenditure requirement, to fund working capital needs, and for general corporate purposes, as well as, to cover the issue expenses.

Pranik Logistics IPO: GMP or Grey Market Premium

Based on data from Investorgain.com, Pranik Logistics IPO has nil GMP. This means that the shares of Pranik Logistics are available in the grey market without any premium and at the upper band of the issue price of ₹77.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.