Pranik Logistics IPO Day 1: Retail Investors Lead with 3.83x Subscription, GMP Stays Nil

The Initial Public Offering (IPO) of Pranik Logistics began on October 10, 2024, and will close on October 14, 2024. On the first day, by 4:10 PM, the IPO was subscribed 2.08 times. The retail portion was subscribed 3.83 times, while the Non-Institutional Investors (NII) category was subscribed 0.76 times. There was no subscription in the Qualified Institutional Buyers (QIB) category on Day 1.

Important Dates:

• The subscription period started on October 10 and will end on October 14, 2024.
• The IPO allotment is expected to be finalized on October 15, 2024.
• The shares are set to list on the NSE SME platform on October 17, 2024.

Price Band and Lot Size:

• The price range for the IPO is set at ₹73–₹77 per share.
• Retail investors must apply for a minimum of 1 lot, which consists of 1,600 shares, requiring a minimum investment of ₹123,200.
• High Net-worth Investors (HNIs) need to apply for at least two lots, making a minimum investment of ₹246,400.

IPO Objective:

The ₹22.47 crore IPO is a new offering of 29.18 lakh shares. The funds raised will be used for investments in technology, capital expenditure, working capital needs, and general corporate purposes, along with covering the expenses of the IPO.

ADVERTISEMENT

Be part of our community by downloading and registering on the Angel One app. Your support helps us keep delivering quality content.

Grey Market Premium (GMP):

According to data from Investorgain.com, Pranik Logistics IPO had no Grey Market Premium (GMP) on the first day, meaning that shares are available at the issue price without any premium in the grey market.