Brace Port Logistics debuted on the NSE SME with an impressive 90% premium, opening at ₹152. This strong market entry occurred on Monday, highlighting the company’s robust initial public offering performance.
Brace Port Logistics IPO, By August 21, 2024, saw overwhelming interest, with subscriptions reaching 588.74 times in retail, 450.04 times among QIBs, and 854.49 times in the NII category, culminating in a total subscription of 657.81 times.
Brace Port Logistics Limited, a global logistics provider, offers specialised services in ocean cargo, air freight, warehousing, and customs clearance. With a strong international presence, the company, supported by a leading air cargo player in India, leverages its extensive network and advanced technology to manage diverse logistics needs efficiently, such as medical supplies and electronics, ensuring optimal supply chain solutions.
Brace Port Logistics Ltd aims to raise funds primarily for working capital, allocating INR 9.75 crores and INR 6.35 crores for FY 2023-24 and FY 2024-25, respectively. The remaining funds will support general corporate activities.