Pranik Logistics IPO allotment: Steps to check status online on NSE, Maashitla Securities

Pranik Logistics IPO allotment status is expected to be finalised on Tuesday, October 15, after the successful subscription.

The NSE SME issue closed with a bumper subscription on Monday, October 14. The initial public offering (IPO) of the logistics services provider was overall booked 218.1 times on the last day of bidding.

The IPO was open for bidding from October 10 to October 14.

The investors, who participated in the IPO subscription, are now waiting for Pranik Logistics to finalise the share allotment status.

Steps to check Pranik Logistics IPO allotment status on NSE

• Visit the NSE IPO allotment status page at www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Login with your user ID and password (First time users will have to create a login id on the NSE website)
• Look for ‘Pranik Logistics’ in the drop-down menu
• Enter PAN details
• Enter your IPO application Number
• Click the ‘I am not a Robot’ checkbox
• Click the ‘Submit’ button

How to check Pranik Logistics IPO allotment statys on Maashitla Securities

• Go to Maashitla Securities portal - https://maashitla.com/
• Go to the 'Allotment Status' section on the home page
• Select Pranik Logistics from the drop down menu for company names
• Enter any of these— PAN/Application Number/Demat Number
• Click the 'Submit' button.

It’s important to note that the name of the company will appear on the list only after finalisation of the share allotment status by Pranik Logistics Limited.

After finalising the share allocation, Pranik Logistics will initiate refunds for the unsuccessful bidders on Wednesday, October 16, and shares will also be transferred to the Demat accounts of successful bidders the same day.

Pranik Logistics IPO listing date has been tentatively fixed as October 17. Shares of Pranik Logistics will be listed on the BSE SME platform on October 17.

Pranik Logistics offer size, price band and minimum investment

Pranik Logistics aimed to raise ₹22.47 crore through the initial public offering. The book-building offer comprised a completely fresh issue of 29.18 lakh shares.

Pranik Logistics IPO price band was set at ₹73 to ₹77 per share. The minimum lot size for retail investors was fixed at 1,600 shares, aggregating to a minimum investment of ₹1,23,200.

Pranik Logistics IPO: Objective

The company plans to use the proceeds of the public issue for investment in technology, funding capital expenditures and working capital requirements. A portion of the IPO proceeds will also be used for general corporate purposes and issue expenses.

About Pranik Logistics

Pranik Logistics Limited was founded in 2015. The company operates as a pan India logistics solutions provider. The company provides integrated services such as transportation, warehousing, material handling, and freight forwarding to its clients. The company employed 625 people on a permanent basis as of September 30, 2024.