GB Logistics IPO booked over 185 times on final day, share allotment on Jan 29; here’s how to check status online

Logistics services provider GB Logistics Commerce Ltd's initial public offering saw a bumper subscription on Tuesday, January 28, the last day of bidding. Overall, the BSE SME issue was booked more than 185 times, led by strong demand across investor categories. The ₹25.07-crore book-building issue opened for bidding on Friday, January 23.

According to the stock exchange data, the IPO received applications for more than 30.28 crore shares against the net offer size of 16.34 lakh shares. The issue was booked 185.31 times.

The retail portion was booked 122.07 times with bids for more than 9.97 crore shares against 8.17 lakh shares on offer. The Non-Institutional Investors (NIIs) booked their segment 402.08 times by applying for 19.06 crore shares against 3.5 lakh shares reserved for them. The Qualified Institutional Buyers (QIBs) submitted bids for over 1.25 crore shares compared to their allotted quota of 4.66 lakh shares. The QIBs booked their category by 26.85 times.

GB Logistics Commerce IPO allotment on January 29

After the IPO's successful closure, GB Logistics Commerce is expected to announce the share allotment status on Wednesday, January 29. IPO investors can also check the share allotment status on the websites of the BSE and IPO registrar Maashitla Securities Pvt. Ltd.

Steps to check IPO share allotment status on the registrar’s website

• Visit the IPO allotment status page on the official website of the issue registrar: https://maashitla.com/allotment-status/public-issues
• Select GB Logistics Commerce Ltd from the dropdown list
• Enter either PAN/Application Number/Demat Account Number
• Click on the ‘Submit’ button to check status

How to check GB Logistics Commerce IPO share allotment on BSE

• Open BSE IPO allotment status page: https://www.bseindia.com/static/investors/application_statuschecksystem.aspx
• Click on the ‘Check Status’ link
• Select ‘equity’ as issue type from two options
• Select GB Logistics Commerce Ltd as the issue name
• Enter PAN details or Application Number
• Click on ‘I am not a robot’ checkbox
• Submit to check the details

The company is expected to start refunds on January 30. On the same day, shares will also be credited to the Demat accounts of allottees.

Here are the key details of GB Logistics Commerce IPO

• GB Logistics Commerce IPO comprised a fresh issue of 24.58 lakh shares.
• The IPO price band was fixed at ₹95 to ₹102 per share.
• The minimum lot size was 1,200 shares per application.
• GB Logistics Commerce IPO listing date has been tentatively fixed as January 31.
• Shares of the company will be listed on the BSE SME platform.

About GB Logistics Commerce and Use of IPO proceeds

GB Logistics Commerce is a logistics services provider and is also involved in agricultural commodities trading.

The company provides freight services for large and medium-sized enterprises. Its fleet comprises light, heavy, closed-body, and trailer trucks and offers large domestic coverage.

It also operates in the agricultural trading segment to generate additional revenue and profit.

GB Logistics Commerce has proposed to utilise proceeds from IPO for debt prepayment, purchase of truck chassis and working capital needs. It would use ₹5 crore for prepayment or repayment of outstanding borrowings. A sum of ₹9.38 crore will be used to meet working capital needs while ₹3.8 crore will be utilised for the purchase of truck chassis and truck bodies.

GB Logistics Commerce financials

GB Logistics Commerce Key Performance Indicators