Brace Port Logistics IPO allotment expected today: Steps to check status on NSE, Link Intime

Investors who have subscribed to the initial public offering (IPO) of small and medium enterprise (SME) Brace Port Logistics Ltd can check the share allotment status today. The IPO share allotment status is expected to be finalised on August 22.

The ₹24.4-crore Brace Port Logistics IPO, which was open for subscription from August 19 to August 21, saw solid demand from investors across categories during the three-day bidding period.

The issue was subscribed almost 658 times, with bids for over 155 crore shares against 23.5 lakh shares on offer.

The portion reserved for non-institutional investors (NIIs) was booked nearly 855 times. The retail individual investors’ segment was overbooked by a massive 589 times, while the qualified institutional buyers’ (QIBs) quota was subscribed 450 times.

Brace Port Logistics had appointed Holani Consultants Pvt. Ltd as the book-running lead manager and the market maker for the IPO, while Link Intime India Pvt. Ltd was hired as the registrar for the issue.

The bidders who participated in the Brace Port Logistics IPO can check the allotment status of their applications on the website of the registrar of issue

Here’s a step-by-step guide to check IPO allotment status on registrar's website

• Visit the official website of Link Intime India Pvt Ltd at https://linkintime.co.in/Initial_Offer/
• From the drop down menu for company names, choose Brace Port Logistics. In case the name is not visible there, it means that the allotment status has not been finalised yet.
• For the customer identification process, choose any one of these— PAN, Application number, DP/Client ID, Bank Account number or IFSC code of the bank account that was used for the IPO application.
• Click on the ‘Submit’ button

You would be able to check the allotment status of your application on screen along with the number of lots allotted.

Steps to check IPO allotment status on the NSE

• Go to the NSE IPO allotment status page at: https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Login with username and password. It’s mandatory to register on the NSE website to check the IPO allotment status.
• Select Brace Port Logistics from the list for issue name
• Verify PAN
• Enter IPO application number
• Click on the ‘Submit’ button

Successful bidders who have been allotted shares can expect them to be credited to their respective Demat accounts by Friday, August 23, while refunds would be initiated for the remaining bidders the same day.

Brace Port Logistics Limited shares are likely to list on the NSE SME platform, Emerge, on August 26.

Brace Port Logistics IPO offer size and other details

Brace Port Logistics IPO was a 100% book-built offer comprising entirely a fresh issue of 30.51 lakh shares.

The IPO price band was fixed at ₹76-₹80 per share, with the lot size or minimum bid quantity of 1,600 shares.

Ahead of the IPO's launch, the company raised ₹4.3 crore through its anchor allocation round. Brace Port Logistics allocated 5.37 lakh shares to three anchor investors at an average price of ₹80 per share.

About Brace Port Logistics

The company said that it plans to utilise the net proceeds of the fresh issue towards funding the working capital requirements of the company and for general corporate purposes.

Established in November 2020, Brace Port Logistics specializes in providing ocean cargo logistics services to clients across sectors. It also provides services such as air freight, warehousing facilities, special cargo services such as handling cargo in foreign countries and delivery of the same in other foreign countries and customs clearance services.

The company reported revenue of ₹55.25 crore in FY 2023-24, down 22% compared to ₹71 core in FY 2022-23. Its profit after tax (PAT) also decreased 21% to ₹4.9 crore in FY24 from ₹6.2 crore in the preceding financial year.