Pranik Logistics, a growing player in the logistics industry, is set to launch its Initial Public Offering (IPO), presenting a promising opportunity for both retail and High Net-worth Individuals (HNIs) investors. The company, known for providing logistics solutions and supply chain management services, has steadily expanded its footprint, and the upcoming IPO aims to raise ₹22.47 crores through the fresh issue of 29.18 lakh shares.
Key Details of the Pranik Logistics IPO
- IPO Opening Date: October 10, 2024
- IPO Closing Date: October 14, 2024
- Allotment Date: October 15, 2024
- Listing Date: October 17, 2024 (on NSE SME platform)
Price Band and Lot Size
The price band for Pranik Logistics IPO is set between ₹73 and ₹77 per share, allowing flexibility for investors to bid within this range.
Retail Investors: The minimum application lot size is 1600 shares. Therefore, retail investors will need to make a minimum investment ranging from ₹116,800 to ₹123,200, depending on the final allotment price.
HNIs: High Net-worth Individuals (HNIs) have the option to bid for multiple lots, with a minimum of two lots (3,200 shares) and a maximum of four lots (6,400 shares). This equates to a maximum investment of ₹492,800 at the upper price band of ₹77 per share.
Lead Managers and Registrars
The IPO is managed by Narnolia Financial Services Ltd, serving as the book-running lead manager. Maashitla Securities Private Limited is the registrar, ensuring the smooth handling of the allotment process. The market maker for the IPO is Prabhat Financial Services, supporting liquidity in the stock once it is listed.