Pranik Logistics IPO Subscription Status

Pranik Logistics' initial public offering (IPO) has garnered significant investor interest, with subscription rates increasing steadily over the three-day period. Starting modestly on day one, the IPO witnessed a surge in demand, resulting in a 6.89 times oversubscription by 11:19:59 AM on day three. This response underscores the strong market appetite for Pranik Logistics' shares and sets the stage for a potentially dynamic listing.

The IPO, which opened on 10th October 2024, has seen significant growth in investor participation across most categories. Pranik Logistics attracted bids for 1,33,31,200 equity shares amounting to ₹102.65 crore.

The Retail Investors segment, in particular, has shown overwhelming demand, followed by strong interest from Non-Institutional Investors. As of the latest update, the qualified institutional buyers (QIB) have shown no participation.

Subscription Status of Pranik Logistics IPO for Days 1, 2, and 3:

Here are the subscription details for Pranik Logistics IPO as of Day 3 (14th October 2024, 11:19:59 AM):

Total Applications: 7,232

Note: The total amount is calculated based on the upper price of the issue price range.

Key Highlights:

• Pranik Logistics IPO is currently subscribed 6.89 times, with exceptional demand from Retail Investors.
• Retail investors have shown overwhelming interest, with a subscription ratio of 11.97 times.
• Non-Institutional Investors (NII) have demonstrated strong enthusiasm, with a subscription ratio of 4.25 times.
• Qualified Institutional Buyers (QIB) have shown no interest, with a subscription ratio of 0.00 times.
• The overall subscription trend increases day-on-day, indicating high investor confidence and positive sentiment towards the issue, despite the lack of QIB participation.

Pranik Logistics IPO - Day 2 Subscription at 4.36 Times

Key Highlights:

• On Day 2, Pranik Logistics' IPO was subscribed 4.36 times, with strong demand from Retail Investors.
• Retail investors showed significantly increased interest with a subscription ratio of 8.11 times.
• Non-Institutional Investors (NII) showed increased interest with a subscription ratio of 1.43 times.
• Qualified Institutional Buyers (QIB) showed no interest with a subscription ratio of 0.00 times.
• The overall subscription trend indicated building momentum, with retail and NII categories showing significant increased participation.

Pranik Logistics IPO - Day 1 Subscription at 2.47 Times

Key Highlights:

• The Pranik Logistics IPO was subscribed 2.47 times on Day 1, with initial demand primarily from Retail Investors.
• Retail investors showed early strong interest with a subscription ratio of 4.57 times.
• Non-Institutional Investors (NII) showed moderate initial interest with a subscription ratio of 0.90 times.
• Qualified Institutional Buyers (QIB) showed no initial interest with a subscription ratio of 0.00 times.
• The first-day response laid a foundation for the remaining days of the IPO, with expectations of increased participation in the following days, particularly in the retail and NII segments.

About Pranik Logistics Limited:

Pranik Logistics Limited, established in 2015, is a PAN India logistics provider operating as a freight forwarder and transporter. The company offers integrated logistics solutions including transportation, warehousing, material handling, and freight forwarding to clients in various industries such as retail, consumer durables, telecom, manufacturing, and pharma.

For FY 2024, Pranik Logistics reported a revenue of ₹6,770.08 lakhs, reflecting an 11% YoY growth, and a Profit After Tax (PAT) of ₹406.56 lakhs, indicating a 336% increase. The company's net worth stood at ₹1,143.19 lakhs as of 31st March 2024. Key performance indicators, including a Return on Equity (ROE) of 8.70%, a Return on Capital Employed (ROCE) of 11.79%, and a PAT Margin of 4.88%, underscore its financial performance.

The company operates with its own fleet of 86 commercial vehicles and manages 30 warehouses directly. As of 30th September 2024, Pranik Logistics had 625 permanent employees.

Read more about Pranik Logistics IPO

Highlights of the Pranik Logistics IPO:

• IPO Date: 10th October 2024 to 14th October 2024
• Listing Date: 17th October 2024 (Tentative)
• Face Value: ₹10 per share
• Price Band: ₹73 to ₹77 per share
• Lot Size: 1600 Shares
• Total Issue Size: 2,918,400 shares (aggregating up to ₹22.47 Cr)
• Fresh Issue: 2,918,400 shares (aggregating up to ₹22.47 Cr)
• Issue Type: Book Built Issue IPO
• Listing At: NSE SME
• Book Running Lead Manager: Narnolia Financial Services Ltd
• Registrar: Maashitla Securities Private Limited
• Market Maker: Prabhat Financial Services