Pranik Logistics IPO Allotment Day: Here’s How to Check Your Share Status as Investors Await Results After 218x Subscription

The allotment for Pranik Logistics IPO is expected to be finalised today. Investors can check if they have received shares through the registrar, Maashitla Securities Private Limited, or on the NSE website. The IPO, which was open for subscription from October 10 to October 14, saw a strong response, being oversubscribed 218 times.

The non-institutional investor (NII) segment was oversubscribed 744 times, while the retail segment was oversubscribed 97.21 times. The qualified institutional buyer (QIB) portion was booked 35.67 times. The IPO price was set between ₹73 and ₹77 per share, according to exchange data.

Due to the high demand from retail investors, shares will be allocated proportionally. If you don’t receive shares, the refund process will begin on October 16, 2024. Allotted shares will be credited to investors’ demat accounts on the same day that refunds are processed. The SME IPO is expected to be listed on the NSE SME platform, with a tentative date of October 17, 2024.

Pranik Logistics plans to use the funds raised for technological upgrades, capital expenditure, working capital needs, general corporate purposes, and covering issue-related expenses.

Steps to Check Allotment Status:

On Maashitla Securities Private Limited website:

1. Visit Maashitla Securities.
2. Select “Pranik Logistics Limited” from the drop-down menu.
3. Enter your PAN number, Demat Account Number, or Application Number.
4. Click “Submit” to view your allotment status.

On NSE website:

1. Visit the NSE IPO Allotment page.
2. Log in with your credentials.
3. Select “Pranik Logistics,” enter your PAN and application number, and click “Submit.”

About Pranik Logistics:

Pranik Logistics is a carrying and forwarding agent offering end-to-end logistics solutions. The company operates on a national level, providing transportation, warehousing, material handling, and freight forwarding services to various industries like automotive, engineering, retail, and textiles.

Since its founding in 2015, the company has expanded its services, offering customized logistics solutions to meet client needs. Pranik Logistics manages a fleet of over 80 commercial vehicles and leases additional vehicles on a per-trip basis when required. The fleet includes container trucks for parcel transportation and platform trucks for heavy-duty items like machinery and automotive parts.