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Pranik Logistics Makes a Muted Debut at ₹79, 2.5% Premium on NSE SME – Get the Complete Details!

Pranik Logistics had a modest stock market debut, listing at ₹79 on the NSE SME, just 2.5% higher than its IPO price of ₹77.

Pranik Logistics made a quiet stock market debut, listing at ₹79 on the NSE SME, a 2.5% premium over its IPO price of ₹77. The ₹22.47 crore IPO was open for subscription from October 10 to 14, 2024.

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Pranik Logistics’ IPO saw strong demand during its three-day bidding, subscribed 218.02 times overall. It received bids for 42.2 crore shares against 19.36 lakh offered. The retail segment subscribed 97.21 times, NIIs 744.05 times, and QIBs 35.67 times.

Pranik Logistics is a pan-India carrying and forwarding agent offering comprehensive logistics solutions from origin to consumption. The company provides integrated services such as transportation, warehousing, material handling, and freight forwarding for various industries, including retail, telecom, and pharmaceuticals. It operates over 80 commercial vehicles and manages 30 warehouses to meet customer needs effectively.

The objective of Pranik Logistics’ IPO is to raise ₹22.47 crore for funding its working capital requirements, general corporate purposes, and business expansion. The proceeds will support the company’s growth and strengthen its operational capabilities in the logistics sector.

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