Pranik Logistics, a logistics and warehousing company, is launching its Initial Public Offering (IPO) on Thursday, October 10. The subscription will be open until October 14. The company has set a price range of ₹73 to ₹77 per share, with the IPO size at ₹22.47 crore at the higher end.
The IPO consists of a fresh issue of 29,18,400 equity shares, each valued at ₹10. Of these, 1,61,600 shares are reserved for market makers, while 27,56,800 shares will be available to the public. Here’s how the shares are divided:
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- 5,55,200 shares for Qualified Institutional Buyers (QIBs)
- 4,14,400 shares for Non-Institutional Investors (NIIs)
- 9,66,400 shares for retail investors
The money raised from the IPO will be used to:
- Boost working capital
- Upgrade technology systems
- Expand the company’s fleet and warehousing
- Improve its logistics infrastructure to serve sectors like automotive, engineering, and retail
Some funds will also be set aside for general corporate purposes, giving the company flexibility in managing its business.
For the financial year 2024, Pranik Logistics reported a net profit of ₹4 crore and nearly ₹67 crore in sales. The IPO’s lead manager is Narnolia Financial Services, with Maashitla Securities as the registrar.
Pranik Logistics, founded in 2015, has grown by providing third-party logistics solutions with solid infrastructure for its clients.
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