October 17, 2024
New Delhi, India
NSE SME IPO
Pranik Logistics made a subdued debut on the NSE SME on October 17, listing at ₹79, a modest 2.5% premium over its IPO price of ₹77. Despite the high demand during the subscription period, the shares started flat on the exchange.
Key Highlights:
- Issue Price: ₹77 per share.
- Listing Price: ₹79 (2.5% premium).
- IPO Size: ₹22.47 crore.
- Subscription: The IPO was oversubscribed by 218.02 times, with high demand from non-institutional investors (NII) at 744.05 times.
- Purpose: The funds will be used for technology investments, capital expenditure, and working capital requirements.
Company Overview:
Founded in 2015, Pranik Logistics provides integrated logistics services across India. The company operates 86 commercial vehicles and manages 30 warehouses, serving industries like retail, telecom, and manufacturing.
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