Pranik Logistics IPO Day 1: NSE SME issue booked over 2 times on high retail demand

Pranik Logistics Limited IPO saw a strong demand across investor categories on Thursday, October 10, as the issue was fully subscribed within hours of launch.

The NSE SME issue was booked 2.34 times as investors placed bids for over 45.37 lakh shares against the 19.36 lakh shares on offer, the NSE data at the close of bidding at 5 pm showed.

On the first day of subscription, retail individual investors applied for over 41.87 lakh shares against 9.66 lakh shares reserved for the category. The retail portion was booked 4.33 times. The Non-Institutional Investors (NIIs) booked their quota 84% with applications for 3.5 lakh shares against the 4.14 lakh shares reserved for the category.

The Qualified Institutional Buyers (QIBs) did not submit any application on the first day of bidding. The company has reserved 5.55 lakh shares for QIBs.

Pranik Logistics IPO: Offer size, price band and minimum investment

Pranik Logistics IPO is a book-building offer worth ₹22.47 crore. The NSE SME issue consists of a completely fresh issuance of 29.18 lakh shares. Pranik Logistics IPO price band has been fixed at ₹73 to ₹77 per share.

Retail investors interested in applying for the IPO can place bids for a minimum single lot size of 1,600 shares, aggregating to ₹1,23,200. On the other hand, High-Networth Individuals (HNIs) can place bids for a minimum lot size of 2 lots, or 3,200 shares, amounting to an investment of ₹2,46,400.

Pranik Logistics IPO listing date

Pranik Logistics IPO subscription window will close on Monday, October 14.

Pranik Logistics IPO share allotment status is likely to be finalised on Tuesday, October 15. After finalising the share allotment status, the company will initiate refunds for unsuccessful bidders on Wednesday, October 16. Successful bidders will also receive shares of Pranik Logistics in their Demat accounts the same day. Shares of Pranik Logistics will be listed on the NSE SME platform, Emerge. The tentative listing date for Pranik Logistics IPO has been fixed as October 17.

Pranik Logistics IPO: Key financials

Pranik Logistics’ revenue for the June quarter of FY25 stood at ₹22.48 crore and the company’s Profit-After-Tax stood at ₹1.08 crore. It net worth was ₹12.52 crore for the period under revenue.

In FY24, the company’s revenue increased over 11% to ₹67.7 crore compared to ₹60.9 crore in FY23. The company’s profit-after-tax (PAT) grew more than four times to ₹4.06 crore in FY24 against ₹93.23 lakh in FY23. In FY24, Pranik Logistics’ net worth grew over 55% to ₹11.43 crore compared to ₹7.36 crore in FY23.

Pranik Logistics IPO Registrar

The registrar for Pranik Logistics IPO is Maashitla Securities Private Limited and the book-running lead manager for the issue is Narnolia Financial Services Ltd. Prabhat Financial Services is the market maker for the issue.

Pranik Logistics Promoters

Pranav Kumar Sonthalia, Shradha Kumari, and Minal Sonthalia are the promoters of Pranik Logistics. Before the issue, the promoters held a 99.99% stake in the company. After the issue, their shareholding will reduce to 73.49%.

Pranik Logistics IPO objective

The company plans to use the money raised via the public issue for investing in new technology, meeting capital expenditure requirements and working capital requirements. A portion of the IPO proceeds will also be used for meeting issue expenses and general corporate purposes.

About Pranik Logistics Limited

Pranik Logistics Limited was founded in 2015. The company is a provider of integrated logistics solutions and it operates as a freight forwarder and transporter.

The services provided by the company include transportation, warehousing, material handling, and freight forwarding. The company has a fleet of 86 commercial vehicles and manages 30 warehouses. The company employed 625 people as of September 30, 2024.