Pranik Logistics IPO Day 2: Issue subscribed 3.14 times so far, check timeline & other key details

Pranik Logistics IPO is witnessing a strong response from investors, with the issue being subscribed 3.14 times so far on Friday, the second day of bidding.

The ₹22.47 crore initial share sale is entirely a fresh issuance of 29.18 lakh equity shares without an offer-for-sale component.

Retail investors can bid for at least one lot or 1,600 shares valued at ₹1,16,800. For high-net-worth individuals, the minimum investment is two lots worth ₹2,33,600.

The money raised will be used to make capital expenditures, invest in technology, meet working capital requirements, serve general corporate purposes, and cover issue expenses.

Pranik Logistics IPO: Timeline

After the bidding period ends, the allotment status will be finalised on October 15. Shares will be credited to the Demat account of the successful bidder on October 16. The listing on the NSE SME platform, Emerge, will occur on October 17.

Pranik Logistics: About the company

The company provides end-to-end logistics solutions to various sectors such as retail, consumer durables, telecom, manufacturing and pharmaceuticals. It operates a fleet of over 80 commercial vehicles (CVs), including platform trucks and container trucks.