Mon Oct 14 07:21:31 UTC 2024: ## Pranik Logistics to Launch IPO on October 10th, Aiming to Raise ₹22.47 Crores
Kolkata-based logistics company Pranik Logistics Limited is set to launch its Initial Public Offering (IPO) on October 10th, 2024, with the subscription period concluding on October 14th. The IPO, a Book Built Issue, aims to raise approximately ₹22.47 crores through a combination of fresh issuance and an offer for sale. The price band for the IPO is set at ₹73 to ₹77 per share.
The company’s revenue has seen consistent growth, reaching ₹67.70 crores in 2024, compared to ₹60.91 crores in 2023. Profitability has also improved significantly, with the company reporting a profit of ₹4.07 crores in 2024, against ₹0.93 crores in 2023. This substantial growth in both revenue and profit makes Pranik Logistics an attractive proposition for long-term investors.
Pranik Logistics, incorporated in 2015, has expanded its operations to encompass a wide range of logistics services, including material handling, freight forwarding, warehousing, and transportation. The company has recently added 30 new warehouses and implemented advanced technology solutions to cater to client needs.
The IPO will be listed on the National Stock Exchange (NSE) on October 15th, 2024. The minimum market lot for the IPO is 1600 shares, requiring an application amount of ₹123,200. Investors interested in participating in the Pranik Logistics IPO can find detailed information on the company’s website, https://pranikgroup.com/, as well as on the IPO Watch website and YouTube channel.
First Piper 