GB Logistics had a weak listing on BSE SME, opening at ₹81.60 per share, 20% below its issue price of ₹102. The stock’s debut reflected subdued investor sentiment, marking a significant discount from its expected valuation in the market.
GB Logistics IPO saw an overwhelming response on the final bidding day, with a total subscription of 184.64 times. The strong demand reflected high investor interest, indicating significant confidence in the company’s growth prospects and future potential in the logistics sector.
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GB Logistics Commerce Limited, established in 2019, specializes in logistics, providing qualified drivers, a fleet, and a charter network. It offers full truckload services, specializing in challenging locations and agricultural commodities, while supporting the logistics sector through diversified trading opportunities, focusing on efficiency and flexible transportation solutions.
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GB Logistics Limited aims to repay ₹500 lakh in borrowings, allocate ₹937.77 lakh for working capital, invest ₹380 lakh in truck purchases, and use remaining funds for general corporate expenses and operational needs.
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