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Introduction To Pranik Logistics IPO
The Pranik Logistics Initial Public Offering (IPO) is a book-built issue worth Rs 22.47 crores. It consists entirely of a fresh issue of 29.18 lakh shares.
Subscriptions for the Pranik Logistics IPO will be open from October 10, 2024, to October 14, 2024. The allotment for the Pranik Logistics IPO is anticipated to be finalised on Tuesday, October 15, 2024.
The Pranik Logistics IPO is set to be listed on the National Stock Exchange (NSE) for Small and Medium-sized Enterprises (SME) with a tentative listing date of Thursday, October 17, 2024.
The price band for the Pranik Logistics IPO is between Rs 73 to Rs 77 per share, with a minimum lot size for an application being 1,600 Shares.
Retail investors need to invest a minimum amount of Rs 1,23,200, while the minimum lot size investment for high-net-worth Individuals (HNI) is 2 lots (3,200 shares), amounting to Rs 2,46,400.
Narnolia Financial Services Ltd. acts as the book-running lead manager of the Pranik Logistics IPO. Maashitla Securities Private Limited serves as the registrar. Prabhat Financial Services will be the market maker for the Pranik Logistics IPO.
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Pranik Logistics IPO Details:
| Particulars | Details |
| IPO Subscription Dates | October 10, 2024 to October 14, 2024 |
| Face Value | Rs 10 per share |
| Price Band | Rs 73 to Rs 77 per share |
| Lot Size | 1,600 Shares |
| Total Issue Size | 29,18,400 shares (aggregating up to Rs 22.47 Cr) |
| Fresh Issue | 29,18,400 shares (aggregating up to Rs 22.47 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre-issue | 80,91,750 |
| Shareholding post-issue | 1,10,10,150 |
| Market Maker portion | 1,61,600 shares (Prabhat Financial Services) |
Timeline Of The Pranik IPO
| Particulars | Details |
| Basis of Allotment | Tuesday, October 15, 2024 |
| Initiation of Refunds | Wednesday, October 16, 2024 |
| The credit of Shares to Demat | Wednesday, October 16, 2024 |
| Listing Date | Thursday, October 17, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 14, 2024 |
Shares Offered to Investors:
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Net Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Net Offer |
Anchor Investors’ Details
| Particulars | Details |
| Bid Date | October 9, 2024 |
| Shares Offered | 8,20,800 |
| Anchor Portion Size (In Crores) | 6.32 |
| Anchor lock-in period end date for 50% shares (30 Days) | November 14, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | January 13, 2025 |
Lot Size Of Pranik IPO:
| Application | Lot/s | Shares | Amount |
| Retail (Min) | 1 | 1600 | Rs 1,23,200 |
| Retail (Max) | 1 | 1600 | Rs 1,23,200 |
| HNI (Min) | 2 | 3,200 | Rs 2,46,400 |
Pranik Logistics Ltd IPO GMP
The grey market premium (GMP) of the Pranik Logistics Ltd IPO, is yet to be updated.
The GMP status as updated on October 6, and October 7, 2024, is as follows.
| GMP Date | Pranik IPO Price | GMP | Estimated Listing Price |
| 10-10-2024 | 77 | Rs 0 | Rs 77 |
| 09-10-2024 | 77 | Rs 0 | Rs 77 |
| 08-10-2024 | 77 | Rs 0 | Rs 77 |
| 07-10-2024 | 77 | Rs 0 | Rs 77 |
| 06-10-2024 | 77 | Rs 0 | Rs 77 |
Pranik Logistics Ltd Company Details :
Pranik Logistics is a top logistics service provider in India. Based in Kolkata, the company operates across Eastern India and was established in 2015.
They offer comprehensive logistics solutions, including transportation, warehousing, material handling, and freight forwarding for clients in various industries such as retail, consumer durables, telecom, manufacturing, and pharma.
The company has a fleet of 86 commercial vehicles and manages 30 warehouses. Their services aim to optimise costs, reduce time levels, and enhance service levels. Pranik Logistics is known for its experienced and qualified management team, long-standing customer relationships, and an asset-light business model.
Financials Of Pranik Logistics
Extract from the financial statements for the past three years ended March 31, and June 30, 2024.
| Particulars | 30-06-2024 (Rs in lakhs) | 31-03-2024 (Rs in lakhs) | 31-03-2023 (Rs in lakhs) | 31-03-2022 (Rs in lakhs) |
| Assets | 3,842.75 | 3,568.30 | 2,352.73 | 1,404.48 |
| Revenue | 2,248.89 | 6,770.08 | 6,090.62 | 3,360.96 |
| Profit After Tax | 108.9 | 406.56 | 93.23 | 31.54 |
| Net Worth | 1,252.09 | 1,143.19 | 736.63 | 363.96 |
| Reserves and Surplus | 442.91 | 603.74 | 197.18 | 103.95 |
| Total Borrowing | 1,961.83 | 1,783.95 | 1,382.09 | 577.87 |
KPI Of Pranik IPO:
| KPI (Key performance indicator) | Values as of June 30, 2024 |
| ROE (Return on Equity) | 8.70% |
| ROCE (Return on Capital Employed) | 11.79% |
| Debt/Equity | 1.57 |
| RoNW (Return on Net worth) | 8.70% |
| P/BV (Price to Book value) | 3.63 |
| PAT (Profit after tax) Margin | 4.88 % |
Pranik Logistics Ltd IPO RHP:
The RHP or the Red Herring Prospectus of Pranik Logistics IPO discloses some risks related to the company.
- The company doesn’t own the premises through which the business operations are done.
- The company has an outstanding litigation against its Promoters. If not solved on time, then it could adversely affect their business, its operations, and financial conditions.
- The company also doesn’t have any in-house technology for operating their business. They rely on the third party for this service. Any disruption in this could lead to hindrance in the business operations of the company.
- The company has negative cash flows in the past from its operating, investing, and financing activities. If there’s prolonged negative cash flows, then it could influence the growth of the business.
- There is a contingent liability of Rs 93 crores in the business in the form of Bank Guarantees as of June 30, 2024. The liability if not paid on time can lead to adverse financial conditions.
Strengths of the company
1) The company’s management team brings decades of industry experience and strong qualifications in their respective fields.
2) It has nurtured enduring partnerships with customers across a wide range of industries, showcasing our ability to meet diverse needs and consistently deliver value.
3) The business operates with minimal physical assets, allowing flexibility and cost-efficiency in adapting to market demands.
4) The company adheres to rigorous quality assurance measures and industry standards to ensure the highest level of product and service excellence.
Pranik IPO Frequently Asked Questions (FAQs)
What is the Pranik Logistics Ltd IPO Lot size?
The minimum lot size for retail investors is 1,600 shares for a lot.
What is the Pranik Logistics Ltd IPO Opening date?
The opening date for Pranik Logistics Ltd IPO is October 10, 2024.
What is the Pranik Logistics Ltd IPO Closing date?
The closing date for Pranik Logistics Ltd IPO is October 14, 2024.
What are the Pranik Logistics Limited owner details?
The company has two promoters, namely, Pranav Kumar Sonthalia and Shradha Kumari.
What is the Pranik IPO face value?
The face value of Pranik Logistics Limited IPO is Rs 10 per share.
Who is the registrar of the Pranik Logistics Limited IPO?
The Registrar of the Pranik Logistics Limited IPO is Maashitla Securities Private Limited.
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