Mon Oct 14 05:21:14 UTC 2024: ## Pranik Logistics IPO Subscribed Over 3 Times on Day 2

**Mumbai, India – October 11, 2024** – The Initial Public Offering (IPO) of Pranik Logistics, an end-to-end logistics solutions provider, has garnered strong investor interest, with the issue being subscribed 3.14 times on its second day of bidding.

The ₹22.47 crore IPO, which opened for subscription on October 10th, is entirely a fresh issuance of 29.18 lakh equity shares, priced between ₹73 and ₹77 per share. The bidding period will conclude on October 14th.

Retail investors can bid for a minimum of one lot (1,600 shares) valued at ₹1,16,800, while high-net-worth individuals must invest in at least two lots (₹2,33,600).

The proceeds from the IPO will be used to fund capital expenditure, invest in technology, meet working capital requirements, and support general corporate purposes.

Pranik Logistics, which operates a fleet of over 80 commercial vehicles, caters to various sectors including retail, consumer durables, telecom, manufacturing, and pharmaceuticals.

The allotment process is expected to be finalized on October 15th, with successful bidders receiving shares in their Demat accounts on October 16th. The company is scheduled to list on the NSE SME platform, Emerge, on October 17th.

**Disclaimer:** Investment in securities market are subject to market risks. Investors are advised to read all related documents carefully before investing.

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