The initial public offering (IPO) of Pranik Logistics Ltd. which opened on October 10 concluded its subscription period on Monday, October 14. The SME issue received a fantastic response from investors as the IPO was subscribed 218.02 times on its final day, led by huge demand from non-institutional buyers.
The Rs 22.47-crore book-building issue consisted a fresh issuance of 29.18 lakh shares. The IPO price band was fixed at Rs 73 to Rs 77 per share.
The share allotment status for Pranik Logistics is expected to be finalised on Tuesday, October 15, followed by the initiation of refunds to non-allottees on October 16. Shares will also be credited to the Demat account of successful bidders on the same day.
Shares of Pranik Logistics Ltd. are scheduled to be listed on the NSE SME platform, Emerge, on Thursday, October 17.
Investors who bid for the issue can check their allotment status on Maashitla Securities.
How to check Pranik Logistics IPO allotment status on Maashitla Securities
Visit the IPO allotment page on Maashitla Securities website here.
Select 'Pranik Logistics Limited' from the drop-down list on the Public Issues page.
Select and Enter your PAN, Application number or Demat account number.
Click on the 'SUBMIT' button.
Download or print the allotment status for your records.
Pranik Logistics IPO GMP Today
Ahead of the Pranik Logistics IPO allotment today, its latest Grey Market Premium (GMP) stands at Rs 16, as per InvestorGain, compared to the upper price band of Rs 77 apiece. According to GMP trends, shares of Pranik Logistics are likely to list at Rs 93 apiece, at a premium of 20.78% against the issue price.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
Pranik Logistics IPO Day 3 Subscription Status
The IPO was subscribed 218.02 times on Monday
Qualified Institutions: 35.67 times
Non-Institutional Buyers: 744.05 times
Retail Investors: 97.21 times
Pranik Logistics IPO: All You Need To Know
Retail investors could apply for at least a single lot size of 1,600 shares, amounting to a minimum investment of Rs 1,23,000 at the issue's upper price band.
As per the company's red herring prospectus, of the 29,18,400 shares offered -- 19.02% were reserved for Qualified Institutional Buyers, 14.2% for Non-Institutional Buyers, 33.11% for Retail Investors and 28.13% for Anchor investors.
The promoters of Pranik Logistics Ltd. – Pranav Kumar Sonthalia, Shradha Kumari and Minal Sonthalia– hold more than 99% stake in the company.
The company had appointed Narnolia Financial Services Ltd. as the book-running lead manager and Maashitla Securities Private Ltd. as the registrar for the issue.
Prabhat Financial Services Ltd. is the market maker for the IPO.
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